Cognitive and Decision Sciences
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Forschungsschwerpunkt
The Center for Cognitive and Decision Sciences (CDS) investigates cognitive search, judgment, and decision making under risk and uncertainty.
The goal is to develop specific models of bounded rationality in these research areas. Models of bounded rationality attempt to answer the question of how people with limited time, knowledge, money, and other scarce resources make decisions. Boundedly rational models provide alternatives to the optimization paradigm still prevailing in cognitive science, economics, and beyond. Our focus is on proximal mechanisms of bounded rationality; that is, the adaptive simple heuristics that enable fast, frugal, and accurate decisions. We investigate heuristics in individuals as well as in social contexts.
Our research topics can be divided, albeit artificially, into five domains:
- the psychology of search,
- the science of heuristics,
- the psychology of risk,
- the aging decision maker, and
- the art of fostering good decisions.
