Cognitive Illusions Reconsidered

Details

Serval ID
serval:BIB_48F6416375E8
Type
A part of a book
Publication sub-type
Chapter: chapter ou part
Collection
Publications
Institution
Title
Cognitive Illusions Reconsidered
Title of the book
Handbook of experimental economics results
Author(s)
Gigerenzer G., Hertwig R., Hoffrage U., Sedlmeier P.
Publisher
North Holland/Elsevier Press
Address of publication
Amsterdam, Netherlands
Publication state
Published
Issued date
2008
Editor
Plott C. R., Smith V. L.
Volume
1
Pages
1018-1034
Language
english
Abstract
Behavioral economists have done a great service in connecting psychology and economics. Up to now, however, most have focused on cognitive illusions and anomalies, in order to prove the descriptive failure of neoclassical economic models. The key problems in the cognitive illusions literature can be summarized in two terms: narrow norms and vague heuristics. The fact that the cognitive illusions they have dealt with can be reduced by efficient representations, or turn out to be no illusions at all, should not lead to the conclusion that people make no errors. By definition, any intelligent system that can operate in an uncertain world will make errors. When one defines precise models of heuristics, one can predict in which tasks people who use them will fail and where they will succeed.
Create date
24/02/2009 14:34
Last modification date
20/08/2019 13:56
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