Betting on one good reason: The Take The Best heuristic (1999)
Authors
Abstract
Analyzes heuristics that draw from inferences from information beyond mere recognition. The authors address how people make inferences, predictions, and decisions from a bundle of imperfect cues and signals. Three heuristics studied in the chapter are the Minimalist, Take The Last, and Take The Best. Findings indicate that fast and frugal heuristics that embody simple psychological mechanisms can yield inferences about a real-world environment that are at least as accurate as standard linear statistical strategies embodying classical properties of rational judgment.
Bibliographic entry
Gigerenzer, G., & Goldstein, D. G. (1999). Betting on one good reason: The Take The Best heuristic. In G. Gigerenzer, P. M. Todd, & the ABC Research Group., Simple heuristics that make us smart (pp. 75-95). New York: Oxford University Press. (Full text)
Miscellaneous
| Publication year | 1999 | |
|---|---|---|
| Document type: | In book | |
| Publication status: | Published | |
| External URL: | http://library.mpib-berlin.mpg.de/ft/gg/GG_Betting_1999.pdf View | |
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