Calculated Risks

In "Calculated Risks," Gerd Gigerenzer explores the psychology of decision-making under uncertainty.

He challenges traditional models that assume perfect information and rationality, instead emphasizing the role of heuristics and simple rules in making effective choices.

The book delves into the limitations of complex algorithms and the advantages of intuitive decision-making in uncertain environments.

Gigerenzer presents real-world examples to illustrate how simple strategies can outperform complex ones, particularly when dealing with unpredictable situations.

He argues for a more nuanced understanding of risk and decision-making, moving beyond simplistic notions of rationality and embracing the power of intuition.