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- Max Planck Institute for Human Development, Berlin

Dates:June 21-28, 2011
Description:Summer Institute on Bounded Rationality
Location:Berlin, Germany
Subject:The Summer School Ś“Bounded Rationality Ś– Foundations of an Interdisciplinary Decision TheoryŚ” will bring together young researchers across the social sciences to seek a common understanding of how Homo sapiens forms decisions. Bounded rationality is the key to understanding how people reason when not all alternatives and consequences are known and the future is uncertain. Whereas logic and probability theory assume perfect knowledge about the relevant features of the world, bounded rationality seeks to specify simple step-by-step rules (heuristics) that function well in an uncertain world in which search, information, and time are limited. The Summer Institute on Bounded Rationality 2011 will have a particular focus on social rationality - a variant of ecological rationality, for which the environment is social rather than physical or technical. Models of social rationality investigate heuristics that people use when interacting with others. The social world affords many opportunities and challenges for decision making, from the benefits of collective cognition, imitation, and cooperation to the costs of groupthink and cut-throat competition. [gemŐ_ŐŔ den Informationen des Anbieters - according to site editor's information]
JEL Code:Q
URL:http://www.mpib-berlin.mpg.de/en/research/adaptive-behavior-and-cognition/summer-institute-2011

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