Linear decision rule as aspiration for simple decision heuristics
author: Özgür Şimşek,
Max Planck Institute for Human Development, Max Planck Institute
published: Nov. 7, 2014, recorded: January 2014, views: 1748
published: Nov. 7, 2014, recorded: January 2014, views: 1748
Slides
Related content
Report a problem or upload files
If you have found a problem with this lecture or would like to send us extra material, articles, exercises, etc., please use our ticket system to describe your request and upload the data.Enter your e-mail into the 'Cc' field, and we will keep you updated with your request's status.
Description
Many attempts to understand the success of simple decision heuristics have examined heuristics as an approximation to a linear decision rule. This research has identified three environmental structures that aid heuristics: dominance, cumulative dominance, and noncompensatoriness. Here, we further develop these ideas and examine their empirical relevance in 51 natural environments. We find that all three structures are prevalent, making it possible for some simple rules to reach the accuracy levels of the linear decision rule using less information.
Link this page
Would you like to put a link to this lecture on your homepage?Go ahead! Copy the HTML snippet !
Write your own review or comment: