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Gerd Gigerenzer on Gut Feelings

EconTalk

The Franklin Approach to Decision Making

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A rational person shouldn't rely on unseen, unconscious intuitions that could always do better by doing a cost benefit analysis or kind of... That's not true. It's important to distinguish between a world where you can calculate the risks and other situations where you can't do that. What's useful is heuristics that's robust, so rules are of thumb that have a good chance to hit as opposed to a calculation that overfits the past.

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