Natural Rationality | decision-making in the economy of nature


Ten major ideas and findings in behavioral decision research in the last 50 years

  1. judgment can be modeled
  2. bounded rationality
  3. to understand decision making, understanding tasks is more important than understanding people
  4. levels of aspiration or reference points and loss aversion
  5. heuristic rules
  6. adding and the importance of simple models
  7. the search for confirmation
  8. the evasive nature of risk perception
  9. the construction of preference
  10. the roles of emotions, affect, and intuition.