How do people, animals, and institutions make decisions in a complex and uncertain world? Rational choice theory answers this question from the perspective of an omniscient and omnipotent superintelligence that decides by optimizing. In contrast, this book promotes the concept of the "adaptive toolbox," a repertoire of fast and frugal heuristics for real people with limited time, knowledge, and resources. It views bounded rationality neither as optimality under constraints nor as the study of people's reasoning fallacies. The strategies in the adaptive toolbox dispense with optimization and, for the most part, with calculations of probabilities and utilities. The book extends the concept of bounded rationality from cognitive tools to emotions; it analyzes social norms, imitation, and other cultural tools as rational strategies; and it shows how smart strategies can exploit the structures of environments. It brings together experts from cognitive science, economics, evolutionary biology, and anthropology to create an interdisciplinary basis for understanding the adaptive toolbox.
- ISBN:
- 9780262571647
- 9780262571647
-
Category:
- Economic theory & philosophy
- Format:
- Paperback
- Publication Date:
-
26-07-2002
- Language:
- English
- Publisher:
- MIT Press Ltd
- Country of origin:
- United States
- Pages:
- 394
- Dimensions (mm):
- 229x152x20mm
- Weight:
- 0.54kg
This title is in stock with our Australian supplier and should arrive at our Sydney warehouse within 1-2 weeks of you placing an order.
Once received into our warehouse we will despatch it to you with a Shipping Notification which includes online tracking.
Please check the estimated delivery times below for your region, for after your order is despatched from our warehouse:
ACT Metro 2 working days
NSW Metro 2 working days
NSW Rural 2-3 working days
NSW Remote 2-5 working days
NT Metro 3-6 working days
NT Remote 4-10 working days
QLD Metro 2-4 working days
QLD Rural 2-5 working days
QLD Remote 2-7 working days
SA Metro 2-5 working days
SA Rural 3-6 working days
SA Remote 3-7 working days
TAS Metro 3-6 working days
TAS Rural 3-6 working days
VIC Metro 2-3 working days
VIC Rural 2-4 working days
VIC Remote 2-5 working days
WA Metro 3-6 working days
WA Rural 4-8 working days
WA Remote 4-12 working days
Share This Book: