rationality - Concepts

Explore concepts tagged with "rationality"

Total concepts: 15

Concepts

Sunk Cost Fallacy - Continuing investments due to past costs that cannot be recovered.
Humanism - A philosophical stance emphasizing human agency, reason, and welfare as the basis for ethics and meaning without appeal to supernatural authority.
Calibration - The alignment between confidence in one's judgments and actual accuracy, reflecting how well subjective certainty matches objective correctness.
Probabilistic Thinking - Thinking in terms of likelihoods rather than certainties to make better decisions.
Belief Revision - The process of changing one's beliefs when confronted with new evidence that contradicts prior assumptions.
Evidence-Based Thinking - The disciplined practice of forming beliefs and making decisions based on the best available evidence rather than intuition, tradition, or authority.
Expected Utility Theory - The standard economic model of rational decision-making under uncertainty, where agents choose options that maximize expected utility.
Backward Induction - A reasoning method in sequential games where players think ahead to the final outcome and work backwards to determine optimal strategy at each decision point.
Expected Value - A probability-weighted average of all possible outcomes used to make rational decisions under uncertainty.
Cognitive Biases - Systematic patterns of deviation from rationality in judgment, arising from mental shortcuts that are efficient but can lead to predictable errors.
Take-the-Best Heuristic - A fast and frugal decision-making strategy that bases judgments on only the single most important differentiating cue between options.
Epistemic Rationality - The systematic pursuit of accurate beliefs through evidence, reason, and willingness to update one's views.
Fast and Frugal Heuristics - Simple decision rules that use minimal information yet often outperform complex analysis in uncertain environments.
Dominant Strategy - A strategy in game theory that yields a better outcome for a player regardless of what other players choose to do.
Debiasing - Strategies and techniques designed to reduce or eliminate the impact of cognitive biases on judgment and decision-making.

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