Jump to ContentJump to Main Navigation
Common Sense, Reasoning, and Rationality$
Users without a subscription are not able to see the full content.

Renee Elio

Print publication date: 2002

Print ISBN-13: 9780195147667

Published to Oxford Scholarship Online: February 2006

DOI: 10.1093/0195147669.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 20 August 2019

How Good Are Fast and Frugal Heuristics?

How Good Are Fast and Frugal Heuristics?

(p.148) 8 How Good Are Fast and Frugal Heuristics?
Common Sense, Reasoning, and Rationality

Gerd Gigerenzer (Contributor Webpage)

Jean Czerlinski

Laura Martignon

Oxford University Press

This chapter argues that models of reasonable and rational judgment should look outside the mind to the structure of the environment in which the mind must operate. The everyday world presents reasoners with finite computational resources and limited time to solve problems for which there is often scarce and uncertain information. Problem-solving heuristics that are fast and frugal would seem particularly effective in such environments. Using several real-world data sets, it is shown in this chapter that certain fast and frugal heuristics performed nearly as accurately as and sometimes better than optimality methods (such as decision models that employ linear and multiple regression techniques). Such heuristics are ecologically valid satisficing strategies, that is, information-processing strategies that are effective for the real-world environment in which people must render most of their decisions.

Keywords:   metareasoning, judgement, heuristics, information processing, problem-solving

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .