Compound cue processing in linearly and nonlinearly separable environments (2008)
Abstract
Take-the-best (TTB) is a fast and frugal heuristic for paired comparison that has been proposed as a model of bounded rationality. This heuristic has been criticized for not taking compound cues into account to predict a criterion, although such an approach is sometimes required to make accurate predictions. By means of computer simulations, it is shown that TTB-configural, an extension of TTB that processes compound cues, can outperform both TTB and a more demanding benchmark. Moreover, a review of experimental evidence suggests that people actually use TTB-configural when equipped with the corresponding knowledge about the causal structure of the environment.
Bibliographic entry
Hoffrage, U., García-Retamero, R., & Czienskowski, U. (2008). Compound cue processing in linearly and nonlinearly separable environments. The Psychological Record, 58, 301-314. (Full text)
Miscellaneous
| Publication year | 2008 | |
|---|---|---|
| Document type: | Article | |
| Publication status: | Published | |
| External URL: | http://search.ebscohost.com/login.aspx?direct=true&db=buh&AN=31951456&site=ehost-live View | |
| Categories: | ForecastingTake-the-bestBounded RationalityEnvironment Structure | |
| Keywords: | decision-makingfrugal heuristicsknowledgemodels |