Heuristics and Biased

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Daniel Kahneman along side of Amos Tversky revolutionized research on human judgment. They conceptualized the idea of the “heuristics and biases” program – that judgment under uncertainty Often rests on a limited number of simplifying heuristics rather than extensive algorithmic processing. Gigerenzer criticized Kehneman and Tverskys research stating that humans are capable of processing more complex algorithms than what Kehneman and Tversky were giving homage to. Thus a debate of what the cognitive capacity is and the deviations between normative models and actual human reasoning has been called into question by casting doubt on the appropriateness of the normative models used to evaluate performance, a form of the “reject-the-norm” strategy. It has been noted the Panglossians, exclusively used the reject the-norm-application strategy to eliminate gaps between descriptive models of performance and normative models. When this type of critique is employed, the normative model that is suggested as a substitute for the one traditionally used in the heuristics and biases literature is one that coincides perfectly with the descriptive model of the subjects’ performance, thus preserving a view of human reasoning and rationale as ideal. Gigerenzer urged that the cognitively capacity is in fact more than this. Gigerenzer urged that there is sufficient evidence for the existence of two types of processing in Human reasoning, decision making, and social cognition. One type fast, automatic, effortless, and non-conscious, the other slow, controlled, effortful, and conscious, which may deliver different and sometimes conflicting results. More recently, some cognitive psychologists have proposed ambitious theories of cognitive architecture, according to which humans possess two distinct reasoning systems, almost two Minds, known as System 1 and System 2. A composite characterization of the two systems runs as follows. System 1thinking, one relies heavily on a number of...
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