ISBN:
0080887961
Content:
One-reason decision making is a label for a class of fast and frugal heuristics that base decisions on only one reason. These heuristics do not attempt to optimally fit parameters to a given environment; rather, they have simple structural features and bet that the environment will fit them. By not attempting to optimize, these heuristics can save time and computations, and demand only little knowledge concerning a situation. Models of one-reason decision making have been designed for various tasks, including choice, numerical estimation, and classification. This chapter focuses on two of these heuristics, Take The Best and Minimalist, and compare their performance with that of standard statistical strategies that weigh and combine many reasons, such as multiple regression. Contrary to common intuition, more reasons are not always better.
In:
Handbook of experimental economics results, Amsterdam : North Holland, 2008, (2008), Seite 1004-1017, 0080887961
In:
9780080887968
In:
9780444826428
In:
0444826424
In:
year:2008
In:
pages:1004-1017
Language:
English
DOI:
10.1016/S1574-0722(07)00108-4
URL:
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