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ecological rationality research program, it presents the main factors that determine economic choices, before exploring the most … elements together, the author presents a seminal model combining preferences and heuristics to explain choices in the …
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Confirmatory bias, defined as the tendency to misinterpret new pieces of evidence as confirming previously held hypotheses, can lead to implacable, even incorrect decision making. It is one of the biases, along with anchoring, framing, and other judgment heuristic errors, that may lead to...
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