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This paper focuses on behavioral routines in adaptive decision making - an issue which has fairly been neglected to date. In two successive experiments, participants worked on recurrent, multiattribute choice problems. In the first experiment, we induced routines by relying upon the human...
Persistent link: https://www.econbiz.de/10005761104
Conditional probability judgments of rare events are often inflated when some meaningful relation exists between the condition and the low-baserate event. While traditional explanations assume that human judgments are generally insensitive to statistical baserates, more recent evidence shows...
Persistent link: https://www.econbiz.de/10005628308