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The human brain processes information for decision-making using one of two routes: an intuitive system and a rational system (Epstein, 1994; popularized by Kahneman, 2011 as System 1 and System 2, respectively). The intuitive system is quick, impulsive, and operates with minimal effort, relying on emotions or habits to provide cues for what to do next, while the rational system is logical, analytical, deliberate, and methodical. Research in neuropsychology suggests that the...
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Rethinking Rationality.

Emmanuel M Pothos1, Timothy J Pleskac2

  • 1Department of Psychology, City, University of London.

Topics in Cognitive Science
|March 9, 2022
PubMed
Summary
This summary is machine-generated.

This study explores rational decision-making and bounded rationality in agents. It examines if diverse theories of rationality are compatible and applicable to critical fields like medicine and law.

Keywords:
Adaptive toolboxBayesian theoryDecision makingPragmaticsQuantum theoryRationalityResource rational

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Area of Science:

  • Cognitive Science
  • Philosophy of Mind
  • Decision Theory

Background:

  • The concept of rational decision-making has been a long-standing inquiry in science and philosophy since antiquity.
  • Contemporary discussions involve diverse perspectives on rationality, including adaptive heuristics, Bayesian theory, quantum theory, resource rationality, and probabilistic language of thought.

Purpose of the Study:

  • To investigate the existence and principles of rational decision-making for bounded agents.
  • To evaluate the compatibility and necessity of various contemporary rationality theories.
  • To assess the implications of these theories for decision-making in critical fields such as politics, medicine, and law.

Main Methods:

  • This special issue synthesizes representative contributions from predominant views on rationality.
  • It facilitates an evaluation of progress on key questions regarding rationality.

Main Results:

  • The collection addresses whether different theories of rationality are mutually exclusive or complementary.
  • It examines their collective impact on establishing rational standards for optimal decision-making.

Conclusions:

  • The findings contribute to understanding the progress and coherence of rationality research.
  • This work aims to inform the application of rational decision-making principles in complex, real-world scenarios.