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Bounded Rationality: The Adaptive Toolbox (Dahlem Workshop Reports) book cover by
Paperback

Bounded Rationality: The Adaptive Toolbox (Dahlem Workshop Reports)

$31.00 / copy at 25+ copies As low as $25.00 at 1,000+Your best volume price

Paperback · 394 pages MIT Press · 2002

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About the book

Bounded Rationality

In a complex and uncertain world, humans and animals make decisions under the constraints of limited knowledge, resources, and time. Yet models of rational decision making in economics, cognitive science, biology, and other fields largely ignore these real constraints and instead assume agents with perfect information and unlimited time. About forty years ago, Herbert Simon challenged this view with his notion of "bounded rationality." Today, bounded rationality has become a fashionable term used for disparate views of reasoning.

This book promotes bounded rationality as the key to understanding how real people make decisions. Using the concept of an "adaptive toolbox," a repertoire of fast and frugal rules for decision making under uncertainty, it attempts to impose more order and coherence on the idea of bounded rationality. The contributors view bounded rationality neither as optimization 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 heuristics can exploit the structure of environments.



The book, Bounded Rationality: The Adaptive Toolbox (Dahlem Workshop Reports) [Bulk, Wholesale, Quantity] ISBN#9780262571647 in Paperback by may be ordered in bulk quantities. Minimum starts at 25 copies. Availability based on publisher status and quantity being ordered.

Details

Publisher
MIT Press
Format
Paperback
Published
Jul 26, 2002
ISBN-13
9780262571647
ISBN-10
0262571641
Pages
394
Carton quantity
24 copies
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CopiesPrice per copyYou save
25 – 99 $31.00 38% off list
100 – 249 $29.00 42% off list
250 – 499 $27.00 46% off list
500 – 999 $26.00 48% off list
1,000+ $25.00 50% off list
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