Abstract

Much research on judgment and decision making has focussed on the adequacy of classical rationality as a description of human reasoning. But more recently it has been argued that classical rationality should also be rejected even as normative standards for human reasoning. For example, Gigerenzer and Goldstein and Gigerenzer and Todd argue that reasoning involves “fast and frugal” algorithms which are not justified by rational norms, but which succeed in the environment. They provide three lines of argument for this view, based on: the importance of the environment; the existence of cognitive limitations; and the fact that an algorithm with no apparent rational basis, Take-the-Best, succeeds in an judgment task. We reconsider –, arguing that standard patterns of explanation in psychology and the social and biological sciences, use rational norms to explain why simple cognitive algorithms can succeed. We also present new computer simulations that compare Take-the-Best with other cognitive models. Although Take-the-Best still performs well, it does not perform noticeably better than the other models. We conclude that these results provide no strong reason to prefer Take-the-Best over alternative cognitive models