New study challenges traditional rationality, suggests new approach for decision-making.
Axiomatic rationality, which is following strict rules in decision-making, may not always be practical in real-life situations with uncertainty. Instead, using shortcuts called heuristics can help us achieve our goals effectively. This approach, known as ecological rationality, focuses on adapting to the environment and using simple strategies to make decisions. It can lead to more accurate predictions, efficiency, and cost-effectiveness compared to sticking strictly to rules. In essence, being flexible and using heuristics can be a better way to make decisions in complex and uncertain situations.