"The classical support for as-if models in the social sciences stems from the economist Milton Friedman (1953), who, like the psychologist B. F. Skinner, saw little value in modeling cognitive processes. In contrast, our aim is to understand actual decision processes, not only the outcomes. There is a good reason for this. Without modeling the cognitive blade of Simon's scissors, it is utterly impossible to determine in what environments heuristics succeed, that is, their ecological rationality."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Academics from the United StatesJews from the United StatesPeople from New York CityAgnostics from the United StatesEconomists from the United States
Original Language: English
Available Languages (1)
Sources
Gerd Gigerenzer, Ralph Hertwig, and Thorsten Pachur, Heuristics: The Foundations of Adaptive Behavior
https://en.wikiquote.org/wiki/Milton_Friedman
Revision History
No revisions have been submitted for this quote.
Categories
Milton Friedman
1912 – 2006
US-amerikanischer Ökonom und Nobelpreisträger
216 quotes on TrueQuotesView all quotes by Milton Friedman →
Related Quotes
"Now, when anybody starts talking about this [an all-volunteer force] he immediately shifts language. My army is 'volu…"
"Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more r…"
"The construction of hypotheses is a creative act of inspiration, intuition, invention; its essence is the vision of s…"
"I have no right to coerce someone else, because I cannot be sure that I'm right and he is wrong."
"Over the period covered by these data, a drastic change has occurred in the responsibilities undertaken by the state …"
"I say thank God for government waste. If government is doing bad things, it's only the waste that prevents the harm f…"
"The price system works so well, so efficiently, that we are not aware of it most of the time. We never realize how we…"
"A largely parallel example involving human behavior has been used elsewhere by Savage and me. Consider the problem of…"
"If we are to use effectively these abstract models and this descriptive material, we must have a comparable explorati…"
"Make politics an avocation, not a vocation."