How to evaluate the rationality of heuristics?

One of the most debated topics among those who study heuristics is the question of their rationality. The present paper proposes an answer to this question based on the ideas of instrumental rationality and the probabilistic nature of heuristic judgments and decisions. Accordingly, it is argued that the rationality of heuristics is determined by their effectiveness, i.e., their ability to achieve a desired result. At the same time, heuristics do not always produce such a result, but only in a certain number of cases. Therefore, their effectiveness should not be evaluated by the binary logic criterion (effective/ineffective) but by the probabilistic criterion, i.e., by how often they lead to the desired result. Each heuristic has a certain objective probability of achieving such a result, which determines its rationality. However, this probability is mostly unknown to us, so when relying on heuristics, we are likely guided by a subjective perception of it, which serves as a metacognitive cue about the probability of the conclusion obtained with the help of this heuristic.

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Publication Details

Journal
Thinking & Reasoning
Published
2024-08-23
DOI
https://doi.org/10.1080/13546783.2024.2395063
Citations
1
Primary Topic
Decision-Making and Behavioral Economics
Type
article
Field-Weighted Citation Impact
0.54
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article

How to evaluate the rationality of heuristics?

Vitaliy Nadurak
1 citations
Thinking & Reasoning
Decision-Making and Behavioral Economics
0.54
article

How to evaluate the rationality of heuristics?

Vitaliy Nadurak
article en
1 citations

Abstract

One of the most debated topics among those who study heuristics is the question of their rationality. The present paper proposes an answer to this question based on the ideas of instrumental rationality and the probabilistic nature of heuristic judgments and decisions. Accordingly, it is argued that the rationality of heuristics is determined by their effectiveness, i.e., their ability to achieve a desired result. At the same time, heuristics do not always produce such a result, but only in a certain number of cases. Therefore, their effectiveness should not be evaluated by the binary logic criterion (effective/ineffective) but by the probabilistic criterion, i.e., by how often they lead to the desired result. Each heuristic has a certain objective probability of achieving such a result, which determines its rationality. However, this probability is mostly unknown to us, so when relying on heuristics, we are likely guided by a subjective perception of it, which serves as a metacognitive cue about the probability of the conclusion obtained with the help of this heuristic.

Thinking & ReasoningVol. 31(2)
Ivano-Frankivsk National Medical University (UA), King Danylo University, Usmanu Danfodiyo University (NG)
Openalex Percentile: Top 35%
Decision-Making and Behavioral Economics
0.54
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