According to Bayesian theories in psychology and neuroscience, minds and brains are
(near) optimal in solving a wide range of tasks. We challenge this view and argue that more …

Modeling human cognition is challenging because there are infinitely many mechanisms
that can generate any given observation. Some researchers address this by constraining the …

A persistent metaphor in decision-making research casts people as intuitive statisticians.
Popular explanations based on this metaphor assume that the way in which people …

Behavioral economics began with the intention of eliminating the psychological blind spot in
rational choice theory and ended up portraying psychology as the study of irrationality. In its …

We adopt an interactionist logic to study the determinants of risk taking by chief executive
officers (CEOs). We introduce the concept of “capability cues”—contextual signals that …

How do people interact with computers? This fundamental question was asked by Card,
Moran, and Newell in 1983 with a proposition to frame it as a question about human …

We prove that a subtle but substantial bias exists in a common measure of the conditional
dependence of present outcomes on streaks of past outcomes in sequential data. The …

Statistical illiteracy can have an enormously negative impact on decision making. This
volume of collected papers brings together applied and theoretical research on risks and …

Herbert Simon introduced the term 'bounded rationality'(Simon 1957b: 198; see also Klaes &
Sent 2005) as a shorthand for his brief against neoclassical economics and his call to …

We propose a critique of normativism, defined as the idea that human thinking reflects a
normative system against which it should be measured and judged. We analyze the …