Ecological rationality: Fast-and-frugal heuristics for managerial decision making under uncertainty

• Main Authors: LUAN, Shenghua, REB, Jochen, GIGERENZER, Gerd
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2019
• Subjects: ecological rationality; fast-and-frugal heuristics; comparative model testing; Δ-inference; heuristics and biases; personnel selection; selection decisions; Human Resources Management; Industrial and Organizational Psychology
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/6401; https://ink.library.smu.edu.sg/context/lkcsb_research/article/7400/viewcontent/ecologicalrationality.pdf
• Institution: Singapore Management University

Heuristics are often viewed as inferior to “rational” strategies that exhaustively search and process information. Introducing the theoretical perspective of ecological rationality, we challenge this view and argue that under conditions of uncertainty common to managerial decision making, managers c...