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Rationality the fast and frugal way

Chater, N; Redington, M; Nakisa, R; Oaksford, M; (1997) Rationality the fast and frugal way. In: Shafto, MG and Langley, P, (eds.) PROCEEDINGS OF THE NINETEENTH ANNUAL CONFERENCE OF THE COGNITIVE SCIENCE SOCIETY. (pp. 96 - 101). LAWRENCE ERLBAUM ASSOC PUBL

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Abstract

In a major theoretical paper, Gigerenzer and Goldstein (1996a) argue that classical rationality should be rejected as a norm of good reasoning, and that this thesis undermines both rational models of human thought and the alternative heuristics-and-biases program. They illustrate their argument by proposing that a specific cognitive estimation problem may be carried out by the "Take the Best" algorithm, which is "fast and frugal," but not rational. We argue: (1) that "fast and frugal" cognitive algorithms may approximate rational norms, and only in this way can their success be explained; and (2) that new computer simulations, and considerations of speed and generality, suggest that other algorithms are at least as psychologically plausible as Take the Best.

Type: Proceedings paper
Title: Rationality the fast and frugal way
Event: 19th Annual Conference of the Cognitive-Science-Society
Location: STANFORD UNIV, Stanford, CA
Dates: 1997-08-07 - 1997-08-10
ISBN: 0-8058-2941-5
Keywords: MODELS
UCL classification: UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences
UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Brain Sciences
UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Brain Sciences > Div of Psychology and Lang Sciences
UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Brain Sciences > Div of Psychology and Lang Sciences > Experimental Psychology
URI: http://discovery.ucl.ac.uk/id/eprint/124971
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