Gut Feelings: short cuts to better decision making
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Speaker(s): Dr Gerd Gigerenzer
Chair: Dr Gerd Gigerenzer
Recorded on 20 October 2008 in Sheikh Zayed Theatre, New Academic Building.
We think of intelligence as a deliberate, conscious activity guided by the laws of logic. Yet much of our mental life is unconscious, based on processes alien to logic: gut feelings, or intuitions. In his lecture Dr Gigerenzer argues that intuition is more than impulse and caprice; it has its own rationale. This can be described by fast and frugal heuristics, which exploit evolved abilities in our brain. Heuristics ignore information and try to focus on the few important reasons. He shows that biased minds that intuitively rely of heuristics can make better inferences about the world than information-greedy statistical algorithms. More information, more time, even more thinking, are not always better, and less can be more.