Summer Institute on Bounded Rationality in Psychology and Economics

The study of bounded rationality rests on multiple methods. Participants of the Summer Institute will be introduced to the sometimes surprisingly different research practices of two neighboring fields, psychology and economics, including theoretical modeling of heuristics (i.e., computational models of heuristics that specify the precise steps of information gathering and processing), the instantiation of those heuristics in terms of computer simulations, mathematical analysis of the fit between heuristics and ecological structures, and experimental tests of how well the heuristics model real-world decision making. The Summer Institute aims to provide a stimulating forum for an interdisciplinary investigation of contemporary debate surrounding the role of bounded rationality in human decision making.