Gerd Gigerenzer - Decision Making

Heuristics

Heuristics are simple strategies that allow a decision maker to reach a decision quickly and with little effort. While most people view heuristics as 'second class citizens' compared to optimized algorithmic solutions. In this interpretation, heuristics must be inferior to the optimized solution because they take into consideration less information - the so-called accuracy effort trade-off. Dr. Gigerenzer takes a different view. In his model, heuristics are optimized for decision making under uncertainty, where optimization doesn't work.

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What is decision making?
What is decision making?
The history of decision making
The history of decision making
Decision making in small and large worlds
Decision making in small and large worlds
How I got into decision making
How I got into decision making
Ecological Reality
Ecological Reality
What is rationality?
What is rationality?
Bounded rationality
Bounded rationality
Heuristics in decision making
Heuristics in decision making
Heuristics
Heuristics
Selection of heuristics
Selection of heuristics
Evaluating heuristics
Evaluating heuristics
Take-the-best heuristics
Take-the-best heuristics
When are heuristics superior
When are heuristics superior
The role of intuition
The role of intuition
Real-world applications
Real-world applications
Medical decision making
Medical decision making
Risk communication
Risk communication