Gerd Gigerenzer Does Logically Incoherent Decision-Making Really Have Negative Consequences?

Gerd Gigerenzer is Director at the Max Planck Institute for Human Development and Director of the Harding Center for Risk Literacy, both in Berlin, Germany. His areas of interest include bounded rationality and social intelligence as well as decisions under uncertainty and time restrictions. For his work, he has received numerous awards, among them the AAAS Prize for Behavioral Science Research for the best article in the behavioral sciences, the Association of American Publishers Prize for the best book in the social and behavioral sciences, and the German Psychology Prize. Gigerenzer is also Batten Fellow at the Darden Business School, University of Virginia, and Fellow of the Berlin-Brandenburg Academy of Sciences and Humanities and the German Academy of Sciences.

Area of Research

Rationality, Risk Communication, Decision-Making, Heuristics

Gerd Gigerenzer. "Towards a Rational Theory of Heuristics." In Minds, Models, and Milieux: Commemorating the Centennial of the Birth of Herbert Simon, edited by Roger Frantz and Leslie Marsh. Basingstoke: Palgrave Macmillan, 2016: 34-59.  
Gerd Gigerenzer. "On the Supposed Evidence for Libertarian Paternalism." Review of Philosophy and Psychology 6 (2015): 361-383.  

since 1997

Director

Max Planck Society (more details)

Max Planck Institute for Human Development

since 2008

Director

Harding Center for Risk Literacy, Berlin

1995-1997

Director

Max Planck Society (more details)

Max Planck Institute for Psychological Research

1992-1995

Professor of Psychology

University of Chicago

Department of Psychology

1990-1992

Professor of Psychology

University of Salzburg (Universität Salzburg)

1984-1990

Professor of Psychology

University of Konstanz (Universität Konstanz)

(Chairman, 1988-1989)

1982-1984

Senior Lecturer

Ludwig Maximilian University of Munich (Ludwig-Maximilians-Universität München)

Department of Psychology

1977-1982

Assistant Professor

Ludwig Maximilian University of Munich (Ludwig-Maximilians-Universität München)

Department of Psychology

1982

Habilitation in Psychology

Ludwig Maximilian University of Munich (Ludwig-Maximilians-Universität München)

1977

PhD in Psychology

Ludwig Maximilian University of Munich (Ludwig-Maximilians-Universität München)

1974

Diploma in Psychology

Ludwig Maximilian University of Munich (Ludwig-Maximilians-Universität München)

American Journal of Psychology

American Psychologist

Behavioral and Brain Sciences

Behavior Research Methods

Instruments & Computers

British Journal for the Philosophy of Science

British Journal of Mathematical and Statistical Psychology

British Medical Journal

Expert Review of Clinical Pharmacology

Cognition

Current Biology

Decision

Developmental Psychology

Diabetologia

Erlbaum Associates Publishers

European Review of Social Psychology

Evolution & Human Behavior

History of the Human Sciences

Human Behavior and Evolution

Journal of Business Research

Journal of Experimental Psychology: Applied

Journal of Experimental Psychology: Learning, Memory & Cognition

Journal of Experimental Psychology: Human Perception and Performance

Journal of Experimental Psychology: General

Journal of Mathematical Psychology

Journal of Personality and Social Psychology

Journal of Political Economy

Journal of Risk and Uncertainty

Journal of the Royal Society Interface

Journal of Travel Medicine and Infectious Disease

Judgment and Decision Making

Lancet

Methods of Psychological Research-Online

Memory & Cognition

Methodika

MacArthur Foundation

MIT Press

New Ideas in Psychology

Organizational Behavior and Human Decision Processes

Oxford University Press

Perceptual & Motor Skills

Personality and Social Psychology Bulletin

Perspectives on Psychological Science

Philosophical Papers

PLoS ONE

Psychological Bulletin

Psychological Methods

Psychological Review

Psychological Science

Psychological Science in the Public Interest

Psychologische Beiträge

Psychologische Rundschau

Psychometrika

Psychonomic Bulletin & Review

Risk Analysis

Royal Society Open Science

SAGE Open

Science

Science Signaling

Statistical Science

Synthese

Synthese

Theory & Psychology

Trends in Cognitive Sciences

University of Michigan Press

University of Pittsburgh Press

Zeitschrift für Entwicklungspsychologie und Pädagogische Psychologie

Zeitschrift für experimentelle und angewandte Psychologie

Zeitschrift für Psychologie

Zeitschrift für Sozialpsychologie

Deutsche Forschungsgemeinschaft

Deutsche Gesellschaft für Psychologie

Economic & Social Research Council

Humboldt Foundation Research Awards

National Institute of Mental Health

National Science Foundation

Netherlands Organization for Scientific Research

Österreichische Nationalbank

Swiss National Science Foundation

Volkswagen Stiftung

Fellowships

International Member, American Philosophical Society (since 2016)

Foreign Honory Member, American Academy of Arts and Sciences (since 2016)

Rothschild Distinguished Visiting Professor, Isaac Newton Institute, Cambridge University (2016)

President, Herbert Simon Society (since 2015)

SAGE Fellow, University of California, Santa Barbara (2014)

Patten Lecturer, Indiana University (2014)

Fellow of the Cognitive Science Society (2012)

Honorary Fellow, Institute for Risk Management, UK (2011)

Honorary Doctorate, Open University of the Netherlands (2009)

Fellow of the Association for Psychological Science (APS) for Distinguished Contributions to Psychological Science (2008)

Honorary Doctorate, University of Basel (2007)

Honorary Professor, Humboldt University Berlin (since 2005)

Batten Fellow, Darden Business School, University of Virginia, Charlottesville (since 2004)

Professor of the University Society, University of Munich (since 2004)

Member, German National Academy of Sciences Leopoldina (since 2002)

Member, Berlin-Brandenburg Academy of Sciences (since 2000)

John M. Olin Distinguished Visiting Professor, School of Law, University of Virginia, Charlottesville (1999)

Honorary Professor, Free University Berlin (since 1998)

Fellow, Center for Interdisciplinary Research, Bielefeld, Germany (1991-1992)

Fellow, Center for Advanced Study in the Behavioral Sciences, Stanford (1989-1990)

Visiting Fellow, Harvard University (1987-1988, 2002-2003)

Visiting Professor, Department of Psychology, Queen's University, Kingston, Canada (1985)

Fellow, Center for Interdisciplinary Research, Bielefeld, Germany (1982-1983)

Prizes

Hufeland Award from the German Foundation for General Medicine (Stiftung Allgemeinmedizin) for Improving Knowledge and Transparency in Medicine (2015)

Risk Savvy: How To Make Good Decisions shortlisted for the Better Life Award, National Multiple Sclerosis Society (2015)

GIKA Distinguished Scholar Award in Information and Knowledge Science (2014)

One of the Top100 Global Thought Leaders, Gottfried Duttweiler Institute (2013, 2012)

Deutscher Psychologie-Preis (2011

Outstanding Paper Award 2011, International Journal of Forecasting, for "Fast and Frugal Forecasting" (with D. G. Goldstein) (2011)

Communicator Award of the DFG (German Research Foundation) and the Donors' Association for the Promotion of Sciences and Humanities (2011)

Marsilius Medal, Heidelberg University (2011)

Gut Feelings: The Intelligence of the Unconscious Shortlisted for the Royal Society Prize for Science Books (2008)

Business Book of the Year Prize (Wirtschaftsbuchpreis 2007) for Bauchentscheidungen (German Translation of Gut Feelings), Awarded by the Swiss Handelszeitung (2007)

Science Book of the Year Prize (Wissenschaftsbuch 2007) for Bauchentscheidungen (German Translation of Gut Feelings), Awarded by Bild der Wissenschaft (2007)

Reckoning with Risk Shortlisted for the Aventis Prize for Science Books (2003)

Science Book of the Year Prize (Wissenschaftsbuch 2002) for Einmaleins der Skepsis (German Translation of Calculated Risks), Awarded by Bild der Wissenschaft (2002)

AAAS (American Association for the Advancement of Science) Prize for Behavioral Science Research (1992)

Academy Stipend, Awarded by the Volkswagen Foundation (1987,1988)

Association of American Publishers Prize for the Best Book in the Social and Behavioral Sciences (The Probabilistic Revolution, MIT Press) (1987)

Fritz Thyssen Foundation Prize for One of the Three Best German Journal Articles in the Social Sciences (for “Der eindimensionale Wähler,” Zeitschrift für Sozialpsychologie) (1984)

European Union

DAAD

Deutsche Forschungsgemeinschaft

Joachim Herz Stiftung

Volkswagen Foundation

Foundation for Informed Medical Decision Making

Swiss National Fund

Cassa Rurale, Italy

National Science Foundations (NSF)

University of Chicago

Winton Capital

© Maximilian Dörrbecker

Max Planck Society


"The Max Planck Society is Germany's most successful research organization. Since its establishment in 1948, no fewer than 18 Nobel laureates have emerged from the ranks of its scientists, putting it on a par with the best and most prestigious research institutions worldwide. The more than 15,000 publications each year in internationally renowned scientific journals are proof of the outstanding research work conducted at Max Planck Institutes – and many of those articles are among the most-cited publications in the relevant field." (Source)

Institute

Max Planck Institute for Human Development

"The Max Planck Institute for Human Development is dedicated to the study of human development and education. Researchers of various disciplines – including psychology, education, sociology and medicine, as well as history, economics, computer science and mathematics – work together on interdisciplinary projects at the Berlin Institute. The research questions they examine include how people make effective decisions even under time pressure and information overload, which effects the institution of school has on students’ development and learning processes, how the interaction between behaviour and brain function changes over the lifespan, as well as how human emotions change in a historical context and how they have affected the course of history itself." (Source)

Map

As explained in this video it is commonly assumed that logically incoherent decision-making is irrational and costly in that it can lead e.g. to a decrease in happiness or health. An example for this would be a patient reacting differently if doctors speak of a 90% success rate of a surgery instead of a 10% failure rate for the same procedure. The purpose of the study presented here was to examine if there is proof in the existing literature that incoherent decision-making actually has negative consequences and is rightly seen as irrational. According to GERD GIGERENZER the findings suggest that the above mentioned assumption is not correct and that rationality needs to be re-defined in moving away from being based on strictly mathematical probabilities to taking context into account.

LT Video Publication DOI: http://dx.doi.org/10.21036/LTPUB10288

How Bad is Incoherence?

  • Hal R. Arkes, Gerd Gigerenzer and Ralph Hertwig
  • Decision
  • Published in 2016

Chicago

Hal R. Arkes, Gerd Gigerenzer and Ralph Hertwig. "How Bad is Incoherence?" Decision 3 (2016): 20-39.