How do human beings make decisions when, as the evidence indicates, the assumptions of the Bayesian rationality … possess a toolkit of heuristics to make decisions under certainty, risk, subjective uncertainty, and true uncertainty (or … Knightian uncertainty). We outline recent advances in knowledge about the use of heuristics and departures from Bayesian …

typically not based on ad hoc calculation. Rather, individuals rely on situational heuristics for the purpose. This paper does … two things: it offers a model of heuristics, in the interest of making behaviour that is guided by heuristics comparable …

typically not based on ad hoc calculation. Rather, individuals rely on situational heuristics for the purpose. This paper does … two things: it offers a model of heuristics, in the interest of making behaviour that is guided by heuristics comparable …