Bounded Rationality in Taking Risks and Drawing Inferences
Bibliographic Data
| ID | 20401512 |
|---|---|
| Authors | Mike Oaksford (0000-0003-3383-3642, Bangor University), Nick Chater (0000-0002-9745-0686, University of Edinburgh) |
| Year | 1992 |
| Volume | 2 |
| Issue | 2 |
| Pages | 225-230 |
| Publication date | 1992-05-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Theory & Psychology (JOURNAL) |
| Journal identifiers | ISSN: 0959-3543 • E-ISSN: 1461-7447 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/0959354392022009 |
| OpenAlex | W2151934017 |
| Language | EN |
| Citations received | 10 |
| References cited | 14 |
This commentary provides a discussion of the concept of `bounded rationality' as it applies to the theses advanced by Lopes (1991) and Evans (1991). Lopes's (1991) assessment of the irrationalist consequences of Tversky and Kahneman's (1974) work on heuristics and biases is premature because bounded rationality implies that people could not employ optimal strategies. Considerations of bounded rationality also provide additional criteria by which to judge the theories of deductive reasoning discussed by Evans (1991). Judged by this criterion, theories whose goal is to explain logically competent performance are inadequate (Oaksford & Chater, 1991). Thus Evans's assessment of the state of current theories of reasoning requires revision
Bounded function · Bounded rationality · Epistemology · Heuristics · LOPES · Mathematical economics · Rationality · Cognitive Science and Mapping · Complex Systems and Decision Making · Computer Science · Decision-Making and Behavioral Economics · Mathematics · Philosophy · Psychology · Artificial Intelligence
Another Look at Reasoning Experiments
Human rationality and the psychology of reasoning
A rational analysis of the selection task as optimal data selection.
Individual differences in reasoning
Toward Parsimony in Bias Research
Is the mind Bayesian? The case for agnosticism
Three Misleading Assumptions in the Customary Rhetoric of the Bias Literature
Reasoning with Bounded Rationality
The Rationality of Risky Decisions
Formal versus Bounded Norms in the Psychology of Rationality
| Citations per year | 0.29 |
|---|---|
| Citation span | 1992 - 2023 (32) |
| Highly cited | No |