The learning (and not) of effort and accuracy tradeoffs
Multiple research streams view decision making as a balance between a desire for accuracy and a desire to minimize cognitive effort. As the effort applied to a decision is a primary determinant of decision quality, the factors that affect the effort-accuracy balance largely determine the eventual outcome of a decision task. Many researchers have documented the surprisingly adaptive nature of decision makers in trading off effort and accuracy. What they have not documented are the mechanisms by which decision makers converge upon their desired levels of effort and accuracy in a given decision environment. Nor have they documented the factors that affect whether adaptivity along these dimensions will be optimal. This paper presents the findings of four studies that help illuminate the manner in which people make these complex tradeoffs, and in the process demonstrates an underadjustment bias in adaptivity to changes in a decision environment.
|Year of publication:||
|Authors:||Larson, Jeffrey S|
|Type of publication:||Other|
Dissertations available from ProQuest
Persistent link: https://www.econbiz.de/10009439078
Saved in favorites
Similar items by person
Larson, Jeffrey S, (2012)
Larson, Jeffrey S, (2013)
- More ...