Lee, Michael D.; Zhang, Shunan - In: Judgment and Decision Making 7 (2012) 4, pp. 360-372
Heuristic decision-making models, like Take-the-best, rely on environmental regularities. They conduct a limited search, and ignore available information, by assuming there is structure in the decision-making environment. Take-the-best relies on at least two regularities: DIMINISHING RETURNS,...
