Abstract
In Chap. 3, we highlighted the apparently fierce debate between the “American” school and the “German” school to the extent that real-world decision-making can be considered rational. The “Americans”, with their long list of biases, would have a fairly negative view on that: many—if not most—human decisions are to an extent irrational. In contrast, the “German” school would argue that what counts is “ecological” rationality; that is, apparently irrational choices (like those driven by heuristic rules) can turn out to be completely rational if appraised in the context of the particular environment in which those choices are made.
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Cf. Kahneman and Tversky (1981).
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Ghisellini, F., Chang, B.Y. (2018). Rationality: An Inferiority Complex?. In: Behavioral Economics. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-75205-1_8
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DOI: https://doi.org/10.1007/978-3-319-75205-1_8
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