Models of bounded rationality describe how a judgement or decision is reached (that is, the heuristic processes or proximal mechanisms) rather than merely the outcome of the decision, and they describe the class of environments in which these heuristics will succeed or fail.

More quotes by Gerd Gigerenzer

Gerd Gigerenzer and Reinhard Selten (2001)

Risk Savvy: How to Make Good Decisions (2014)

Reckoning with Risk (2003)

Quote text and notes from Wikiquote: Gerd Gigerenzer (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.