From Simon 's scissors for rationality to abc's adaptive toolbox

Behavioral and Brain Sciences 23 (5):765-766 (2000)
The smartness of simple heuristics depends upon their fit to the structure of task environments. Being fast and frugal becomes psychologically demanding when a decision goal is bounded by the risk distribution in a task environment. The lack of clear goals and prioritized cues in a decision problem may lead to the use of simple but irrational heuristics. Future research should focus more on how people use and integrate simple heuristics in the face of goal conflict under risk.
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