theory of ecological rationality. The main casualty of this rebuilding process is optimality. Once we view optimality as a …If we reassess the rationality question under the assumption that the uncertainty of the natural world is largely … formal implication of quantified uncertainty rather than an ecologically meaningful objective, the rationality question …

assumptions of expected utility theory and the basic rationality requirement of consistency with first-order stochastic dominance … consistent with the rationality criterion. In contrast, Chapters 3, 4 and 5 take a behavioral approach to decisions under … by a systematic bias instead of a private information advantage. Contradicting the rationality postulate and ruled out …