Three studies sought to investigate decision strategies in memory-based decisions and to test the predictions of the parallel constraint satisfaction (PCS) model for decision making (Glöckner & Betsch, 2008). Time pressure was manipulated and the model was compared against simple heuristics...

Classic behavioral decision research has intensively explored deliberate processes in decision making. Accordingly, individuals are viewed as bounded rational actors who, because of cognitive limitations, use simple heuristics that are successful in certain environments. In this chapter, it is...

Although intuitive-automatic processes sometimes lead to systematic biases in judgment and choice, in many situations especially this kind of processes enables people to approximate rational choices. In complex base-rate tasks with repeated outcome feedback we observed choices which were in line...

Many everyday decisions have to be made under risk and can be interpreted as choices between gambles with different outcomes that are realized with specific probabilities. The underlying cognitive processes were investigated by testing six sets of hypotheses concerning choices, decision times,...

Expertise research shows quite ambiguous results on the abilities of experts in judgment and decision making (JDM) classic models cannot account for. This problem becomes even more accentuated if different levels of expertise are considered. We argue that parallel constraint satisfaction models...

In recent years, numerous studies comparing intuition and deliberation have been published. However, until now relatively little is known about the cognitive processes underlying the two decision modes. Therefore, we analyzed processes of information search and integration using eye-tracking...

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...

It has been shown that in decision making evaluations of evidence and attributes are modified. In three studies it was investigated if this finding of coherence shifts generalizes to real-world probabilistic inference decisions which are made from given probabilistic cues. Using a...

The fast-and-frugal heuristics approach to probabilistic inference assumes that individuals often employ simple heuristics to integrate cue information that commonly function in a non-reciprocal fashion. Specifically, the subjective validity of a certain cue remains stable during the application...

In recent years, numerous studies comparing intuition and deliberation have been published. However, until now relatively little is known about the cognitive processes underlying the two decision modes. Therefore, we analyzed processes of information search and integration using eye-tracking...