When evaluating the risks of future invasions, we often have sparse information on the likelihood that a species will arrive, establish and spread in a new environment, and on the potential impacts should this occur. Conventional risk assessment, therefore, is limited in providing guidance in...

This paper explores the use of the anchoring and adjustment heuristic by decision makers in a financial market; in particular, the degree to which horserace bettors anchor their probability judgments on the advantage afforded by a horse's barrier-position. The results suggest that under certain...