ISBN:
0080887961
Content:
This chapter focuses on bounded rationality as the study of heuristics that can exploit structures of their environments, we use the term ecological rationality. If one focuses only on cognitive limitations, one can hardly understand why cognition works as well as it does just as looking at one blade alone does not explain how scissors cut. Simon's use of the term cognitive limitations (as opposed to neutral terms such as cognitive heuristics) is unfortunate because it has been taken to imply poor performance. However, equating limits with failure, and lack of limits with success, may underlie a deep misunderstanding about the consequences of omniscience. An unlimited memory, for instance, could be disastrous: The sheer mass of details stored could critically slow down and inhibit the retrieval of the few important experiences when they are needed. And too much information would impair the mind's ability to abstract, infer, and learn.
In:
Handbook of experimental economics results, Amsterdam : North Holland, 2008, (2008), Seite 976-986, 0080887961
In:
9780080887968
In:
9780444826428
In:
0444826424
In:
year:2008
In:
pages:976-986
Language:
English
DOI:
10.1016/S1574-0722(07)00105-9
URL:
Volltext
(Deutschlandweit zugänglich)
