On the relative importance of the hot stove effect and the tendency to rely on small samples
Experiments have suggested that decisions from experience differ from decisions from description. In experience-based decisions, the decision makers often fail to maximise their payoffs. Previous authors have ascribed the effect of underweighting of rare outcomes to this deviation from maximisation....
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Format: | Article |
Language: | English |
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Cambridge University Press
2009-08-01
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Series: | Judgment and Decision Making |
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Online Access: | https://www.cambridge.org/core/product/identifier/S193029750000125X/type/journal_article |