Across many domains of decision making, people seem both rational and irrational. We review recent work that aims to reconcile these apparently contradictory views by modeling human decisions as optimal under a set cognitive resource constraints. This ‘resource-rational’ analysis connects psychology neuroscience ideas from engineering, economics, machine learning. Here, we focus on an informati...

In an 1854 lecture, TH Huxley suggested that physiology should be measured by its contribution to science, practical worth and the extent which it made a branch of education. Since macrophysiology, or investigation variation in physiological traits over large geographical temporal scales ecological implications this variation, is well-established approaching third decade, these questions are po...

If the company builds a big plant, it must live with it whatever the size of market demand. If it builds a small plant, management has the option of expanding the plant in two years in the event that demand is high during the introductory period; while in the event that demand is low during the introductory period, the company will maintain operations in the small plant and make a tidy profit o...