Unifying Decision-Making: a Review on Evolutionary Theories on Rationality and Cognitive Biases

Abstract

In this paper, we make a review on the concepts of rationality across several different fields, namely in economics, psychology and evolutionary biology and behavioural ecology. We review how processes like natural selection can help us understand the evolution of cognition and how cognitive biases might be a consequence of this natural selection. In the end we argue that humans are not irrational, but rather rationally bounded and we complement the discussion on how quantum cognitive models can contribute for the modelling and prediction of human paradoxical decisions.