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But when and how can such fast and frugal heuristics work? What heuristics are in the mind's "adaptive toolbox," and what building blocks compose them? Can judgments based simply on a single reason be as accurate as those based on many reasons? Could having less knowledge even lead to systematically better predictions than having more knowledge? We explore these questions by developing computational models of heuristics and testing them through theoretical analysis and practical experiments with people. We show how fast and frugal heuristics can yield adaptive decisions in situations as varied as choosing a mate, dividing resources among offspring, predicting high-school drop-out rates, and profiting from the stock market.
We have worked to create an interdisciplinary book that is both useful and engaging and will appeal to a wide audience. It is intended for readers interested in cognitive psychology, evolutionary psychology, and cognitive science, as well as in economics and artificial intelligence. We hope that it will also inspire anyone who simply wants to make good decisions. --This text refers to an out of print or unavailable edition of this title.
Are we really that flawed that in order to figure out which pizza to order you need to do multiple regression analysis? Read more
This book reads like a PhD thesis re-written for mass consumption. All the statistics are coma-inducing and I felt like I had to hunt for useful information. Read morePublished on July 15, 2010 by Bookeater
This book presents serious arguments in favor of using simple rules to make most decisions. They present many examples where getting a quick answer by evaluating a minimal amount... Read morePublished on April 30, 2010 by Peter McCluskey
I agree with most of the other reviews that the book is well written but will likely be enjoyed only by those who are interested in a more academic approach to the subject. Read morePublished on October 26, 2008 by Turd Ferguson
People aren't computers. Human beings live in a real world of scarcity and constraint. Even though time and information may be scarce, human beings must make high-stakes decisions. Read morePublished on October 14, 2005 by Rolf Dobelli