ecological rationality research program, it presents the main factors that determine economic choices, before exploring the most … algorithms applied by people in decision-making processes, among which there are outstanding social concerns. Drawing these … elements together, the author presents a seminal model combining preferences and heuristics to explain choices in the …

psychology into economics share a common trait: the presumption that decision makers use shortcuts that lead to deviations from … rational behaviour (the Heuristics-and-Biases program). Many economists seem unaware that this viewpoint has long been … contested in cognitive psychology. Proponents of an alternative program (the Ecological-Rationality program) argue that …