A vast literature shows that individuals frequently violate normative principles in reasoning. In this paper, we report the results of four studies designed to determine if information dissemination in competitive auctions can reduce, or even eliminate, logical errors in the Wason selection...

We study the impact of team decision making on market behavior and its consequences for subsequent individual performance in the Wason selection task, the single-most studied reasoning task. We reformulated the task in terms of ?assets? in a market context. Teams of traders learn the task?s...

A vast literature shows that individuals frequently violate normative principles in reasoning. In evaluating the relevance of these findings for psychology, economics, and related disciplines, it is natural to ask whether reasoning errors reflect random aberrations or systematic biases. One...

A vast literature shows that individuals frequently fail to identify the normative solutions in logical reasoning tasks. Much attention has been devoted to the study of these deviations at the individual level; less eVort was exerted to investigate whether institutional settings might facilitate...

When researchers from different fields with different norms collaborate, the question arises of how name-ordering conventions are chosen and how they affect contribution credits. In this paper, we answer these questions by studying two disciplines that exemplify the two cornerstones of...

Previous work on the joint effects of vagueness in probabilities and outcomes in decisions about risky prospects has documented the decision-makers’ (DMs) differential sensitivity to these two sources of imprecision. Budescu et al. [6] report two studies in which DMs provided certainty...