Homo heuristicus: decision making in an uncertain world

Can less be more? In a world characterised by uncertainty, simple rules — known as heuristics — often lead to better decisions than complex algorithms. These heuristics are not only more efficient but also easier to understand and apply. This talk explores the concept of the adaptive toolbox (the repertoire of heuristics available to individuals or organisations) and examines its ecological rationality — how these heuristics leverage the structure of the environment to achieve effective outcomes. Gerd Gigerenzer will demonstrate when less can be more, and why.