The notion of ecological rationality implies that the accuracy of a decision strategy depends on features of the information environment in which it is tested. We demonstrate that the performance of a group may be strongly affected by the decision strategies used by its individual members and...

This paper presents an axiomatic framework for the priority heuristic, a model of bounded rationality in Selten’s (in: Gigerenzer and Selten (eds.) Bounded rationality: the adaptive toolbox, <CitationRef CitationID="CR32">2001</CitationRef>) spirit of using empirical evidence on heuristics. The priority heuristic predicts actual human...</citationref>