(from the chapter) The notion of an adaptive toolbox provides a framework for nonoptimizing visions of bounded rationality, emphasizing psychological plausibility, domain specificity, and ecological rationality. Heuristics in the adaptive toolbox are modeled on the actual cognitive abilities a species has rather than on the imaginary powers of omniscient demons. They are designed for specific goals - domain specific rather than domain general - which enable them to make fast, frugal, and computationally cheap decisions. Heuristics are composed from building blocks that guide search, stop search, and make decisions. Heuristics that are matched to particular environmental structures allow agents to be ecologically rational. The study of ecological rationality involves analyzing the structure of environments, the structure of heuristics, and the match between them. (PsycINFO Database Record (c) 2006 APA, all rights reserved)
CITATION STYLE
The Adaptive Toolbox. (2020). In Bounded Rationality. The MIT Press. https://doi.org/10.7551/mitpress/1654.003.0005
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