Errors in estimating and forecasting often result from the failure to collect and consider enough relevant information. We examine whether attributes associated with persistence in information acquisition can predict performance in an estimation task. We focus on actively open-minded thinking...

Subjects who judged speed in a driving scenario overestimated how fast they could decelerate when speeding compared to when keeping within the speed limit (Svenson, 2009). The purpose of the present studies were to replicate studies conducted in Europe with subjects in the U.S., to study the...

The calibration of probability or confidence judgments concerns the association between the judgments and some estimate of the correct probabilities of events. Researchers rely on estimates using relative frequencies computed by aggregating data over observations. We show that this approach...

Many natural decisions contain an element of skill. Modern conceptions of the skill component include control (Goodie, 2003) and competence (Heath \& Tversky, 1991). The control hypothesis states that a task's skill component (the sensitivity of the task to skill) affects decision making; the...