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Rethinking rationality / Gerd Gigerenzer and Reinhard Selten -- What is bounded rationality? / Reinhard Selten -- The adaptive toolbox / Gerd Gigerenzer -- Fast and frugal heuristics for environmentally bounded minds / Peter M. Todd -- Evolutionary adaptation and the economic concept of bounded...
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Heuristics are commonly viewed in behavioral economics as inferior strategies resulting from agents’ cognitive limitations. Uncertainty is generally reduced to a form of risk, quantifiable in some probabilistic format. We challenge both conceptualizations and connect heuristics and uncertainty...
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