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Four laboratory studies were conducted to test the hypothesis that correct Bayesian reasoning can be predicted by two factors of task complexity --- the number of mental steps required to reach the normative solution, and the compatibility between the framing of data presented and the framing of...
Persistent link: https://www.econbiz.de/10010777687
The recognition heuristic (RH; Goldstein \& Gigerenzer, 2002) suggests that, when applicable, probabilistic inferences are based on a noncompensatory examination of whether an object is recognized or not. The overall findings on the processes that underlie this fast and frugal heuristic are...
Persistent link: https://www.econbiz.de/10008548768
This paper examines the effect of information processing styles (indexed by the Rational-Experiential Inventory of Pacini and Epstein, 1999) on adherence to bias judgments, and particularly to reverse biases; i.e., when two choice questions that comprise identical normative components are set in...
Persistent link: https://www.econbiz.de/10009151109
A large body of survey research offers evidence that citizens are not always fully aware of the economic and political realities in their respective countries. Norton and Ariely (2011) extended this research to the domain of wealth inequality, showing that Americans were surprisingly unaware of...
Persistent link: https://www.econbiz.de/10010661318