On the relative importance of the hot stove effect and the tendency to rely on small samples
Experiments have suggested that decisions from extit{experience} differ from decisions from extit{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...
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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: | http://journal.sjdm.org/9521/jdm9521.pdf |