Search Results - subject:"Fast and Frugal Heuristics"

Do people make decisions under risk based on ignorance?: an empirical test of the priority heuristic against cumulative prospect theory

Glöckner, Andreas; Betsch, Tilmann - 2008

Brandstätter, Gigerenzer and Hertwig (2006) put forward the priority heuristic (PH) as a fast and frugal heuristic for decisions under risk. According to the PH, individuals do not make trade-offs between gains and probabilities, as proposed by expected utility models such as cumulative...

Persistent link: https://www.econbiz.de/10010264834

Construction of probabilistic inferences by constraint satisfaction?

Glöckner, Andreas; Betsch, Tilmann; Schindler, Nicola - 2008

forecasts) and in decisions for which the application of fast-and-frugal heuristics has been claimed (city-size decisions) the … assumption of complex decision models and the fast-and-frugal heuristics approach, which claim that probabilistic inferences are …

Persistent link: https://www.econbiz.de/10010264843

Coherence Shifts in Probabilistic Inference Tasks

Glöckner, Andreas; Betsch, Tilmann; Schindler, Nicola - Max-Planck-Institut zur Erforschung von … - 2008

The fast-and-frugal heuristics approach to probabilistic inference assumes that individuals often employ simple … environments involving real-world cue knowledge (weather forecasts) and in a domain for which the application of fast-and-frugal … heuristics has been demonstrated (city-size tasks). The results indicate that subjective cue validities are not fixed parameters …

Persistent link: https://www.econbiz.de/10004991251

Do People Make Decisions Under Risk Based on Ignorance? An Empirical Test of the Priority Heuristic against Cumulative Prospect Theory

Glöckner, Andreas; Betsch, Tilmann - Max-Planck-Institut zur Erforschung von … - 2008

decision tasks that were not diagnostic for the PH as compared to CPT. Keywords: Decision Strategy, Fast and Frugal … Heuristics, Bounded Rationality, Decision Latency, Process Tracing, Cumulative Prospect Theory …

Persistent link: https://www.econbiz.de/10005772775

One-reason decision making in risky choice? A closer look at the priority heuristic

Hilbig, Benjamin E. - In: Judgment and Decision Making 3 (2008) 6, pp. 457-462

Although many models for risky choices between gambles assume that information is somehow integrated, the recently proposed priority heuristic (PH) claims that choices are based on one piece of information only. That is, although the current reason for a choice according to the PH can vary, all...

Persistent link: https://www.econbiz.de/10005612492

Risk, uncertainty, and heuristics

Mousavi, Shabnam; Gigerenzer, Gerd - In: Journal of Business Research 67 (2014) 8, pp. 1671-1678

relevance. Fast-and-frugal heuristics, on the other hand, provide robust strategies that can perform well under uncertainty. The …

Persistent link: https://www.econbiz.de/10010776883

Risk, uncertainty, and heuristics

Mousavi, Shabnam; Gigerenzer, Gerd - In: Journal of business research : JBR 67 (2014) 8, pp. 1671-1678

Persistent link: https://www.econbiz.de/10010379250

The Similarity Heuristic

Read, Daniel; Grushka-Cockayne, Yael - Department of Economics and Finance, Business School - 2007

Decision makers are often called on to make snap judgments using fast-and- frugal decision rules called cognitive heuristics. Although early research into cognitive heuristics emphasized their limitations, more recent research has focused on their high level of accuracy. In this paper we...

Persistent link: https://www.econbiz.de/10009293603

Managerial decision making in customer management : adaptive, fast and frugal?

Bauer, Johannes; Schmitt, Philipp; Morwitz, Vicki G.; … - In: Journal of the Academy of Marketing Science 41 (2013) 4, pp. 436-455

Persistent link: https://www.econbiz.de/10009776510

Fast and frugal heuristics for new product screening : is managerial judgment "good enough"?

Albar, Fatima M.; Jetter, Antonie J. - In: International journal of management and decision making … 12 (2012/13) 2, pp. 165-189

Persistent link: https://www.econbiz.de/10010211740