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Empirical tests of a fast-and-frugal heuristic: Not everyone "takes-the-best"

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  • Newell, Ben R.
  • Weston, Nicola J.
  • Shanks, David R.

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  • Newell, Ben R. & Weston, Nicola J. & Shanks, David R., 2003. "Empirical tests of a fast-and-frugal heuristic: Not everyone "takes-the-best"," Organizational Behavior and Human Decision Processes, Elsevier, vol. 91(1), pages 82-96, May.
    • Handle: RePEc:eee:jobhdp:v:91:y:2003:i:1:p:82-96
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    1. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    2. Ford, J. Kevin & Schmitt, Neal & Schechtman, Susan L. & Hults, Brian M. & Doherty, Mary L., 1989. "Process tracing methods: Contributions, problems, and neglected research questions," Organizational Behavior and Human Decision Processes, Elsevier, vol. 43(1), pages 75-117, February.
    3. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    4. Svenson, Ola, 1996. "Decision Making and the Search for Fundamental Psychological Regularities: What Can Be Learned from a Process Perspective?," Organizational Behavior and Human Decision Processes, Elsevier, vol. 65(3), pages 252-267, March.
    5. Slegers, David W. & Brake, Gregory L. & Doherty, Michael E., 2000. "Probabilistic Mental Models with Continuous Predictors," Organizational Behavior and Human Decision Processes, Elsevier, vol. 81(1), pages 98-114, January.
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    2. repec:cup:judgdm:v:4:y:2009:i:7:p:587-600 is not listed on IDEAS
    3. Daniel Hausmann & Damian Läge, 2008. "Sequential evidence accumulation in decision making: The individual desired level of confidence can explain the extent of information acquisition," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3, pages 229-243, March.
    4. Carrasco, Juan A. & Baucells, Manel, 2008. "Tight upper bounds for the expected loss of lexicographic heuristics in binary multi-attribute choice," Mathematical Social Sciences, Elsevier, vol. 55(2), pages 156-189, March.
    5. Jörg Rieskamp, 2008. "The importance of learning when making inferences," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3, pages 261-277, March.
    6. repec:cup:judgdm:v:3:y:2008:i::p:205-214 is not listed on IDEAS
    7. Andreas Gloeckner & Steffen Moritz, 2009. "A fine-grained analysis of the jumping-to-conclusions bias in schizophrenia: Data-gathering, response confidence, and information integration}," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 4(7), pages 587-600, December.
    8. Robin Hogarth & Natalia Karelaia, 2003. "Take-the-best and other simple strategies: Why and when they work 'well' in binary choice," Economics Working Papers 709, Department of Economics and Business, Universitat Pompeu Fabra.
    9. Arndt Bröder & Ben Newell, 2008. "Challenging some common beliefs: Empirical work within the adaptive toolbox metaphor," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3, pages 205-214, March.
    10. Juliane E. Kaemmer & Wolfgang Gaissmaier & Uwe Czienskowski, 2013. "The environment matters: Comparing individuals and dyads in their adaptive use of decision strategies," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 8(3), pages 299-329, May.
    11. Andreas Glöckner & Steffen Moritz, 2008. "A Fine-grained Analysis of the Jumping to Conclusions Bias in Schizophrenia: Data-Gathering, Response Confidence, and Information Integration," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2008_48, Max Planck Institute for Research on Collective Goods.
    12. Jean-François Laslier, 2009. "The Leader Rule," Journal of Theoretical Politics, , vol. 21(1), pages 113-136, January.
    13. Karelaia, Natalia, 2006. "Thirst for confirmation in multi-attribute choice: Does search for consistency impair decision performance?," Organizational Behavior and Human Decision Processes, Elsevier, vol. 100(1), pages 128-143, May.
    14. repec:cup:judgdm:v:3:y:2008:i::p:229-243 is not listed on IDEAS
    15. Andreas Glöckner & Tilmann Betsch & Nicola Schindler, 2008. "Coherence Shifts in Probabilistic Inference Tasks," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2008_14, Max Planck Institute for Research on Collective Goods.
    16. Manel Baucells & Juan A. Carrasco & Robin M. Hogarth, 2008. "Cumulative Dominance and Heuristic Performance in Binary Multiattribute Choice," Operations Research, INFORMS, vol. 56(5), pages 1289-1304, October.
    17. Wei-Ru Chen, 2008. "Determinants of Firms' Backward- and Forward-Looking R&D Search Behavior," Organization Science, INFORMS, vol. 19(4), pages 609-622, August.
    18. Sipos, Norbert & Lukovszki, Lívia & Rideg, András & Vörös, Zsófia, 2023. "A vállalkozói döntéshozatali logikák kognitív megközelítése [Entrepreneurial effectuation through the lens of cognitive processes]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 544-563.
    19. Rieger, Marc Oliver & Wang, Mei & Hausmann, Daniel, 2021. "Pre-decisional information acquisition: Why do we pay too much for information? Brief report," Journal of Economic Psychology, Elsevier, vol. 86(C).
    20. Andreas Glöckner & Tilmann Betsch, 2008. "Do People Make Decisions Under Risk Based on Ignorance? An Empirical Test of the Priority Heuristic against Cumulative Prospect Theory," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2008_05, Max Planck Institute for Research on Collective Goods.
    21. Bearden, J. Neil & Connolly, Terry, 2007. "Multi-attribute sequential search," Organizational Behavior and Human Decision Processes, Elsevier, vol. 103(1), pages 147-158, May.
    22. Glöckner, Andreas & Betsch, Tilmann, 2008. "Do people make decisions under risk based on ignorance? An empirical test of the priority heuristic against cumulative prospect theory," Organizational Behavior and Human Decision Processes, Elsevier, vol. 107(1), pages 75-95, September.
    23. repec:cup:judgdm:v:3:y:2008:i::p:261-277 is not listed on IDEAS

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