IDEAS home Printed from https://ideas.repec.org/p/xrs/sfbmaa/99-49.html
   My bibliography  Save this paper

Intransitivity of fast and frugal heuristics

Author

Listed:
  • Lages, Martin

    (MPI for Human Development, Berlin)

  • Hoffrage, Ulrich

    (Sonderforschungsbereich 504)

  • Gigerenzer, Gerd

    (MPI for Human Development, Berlin)

Abstract

How to derive and predict intransitivities from fast and frugal heuristics, such as Take The Best, Minimalist, and Take The Last? It is specified in analytical terms under which conditions these lexicographic heuristics generate intransitivities. On the basis of the analytical results a simulation study was conducted that investigates how limited discriminability and randomness affect transitivity when the amount of missing information is varied in a naturally structured environment. It has long been known that transitivity and even weak stochastic transitivity is violated in human choice behavior. These results together with the present findings demand an explanation that goes beyond the concept of randomness and discriminability as preferred in classical models of rational choice. It is concluded that fast and frugal heuristics offer such an explanation.

Suggested Citation

  • Lages, Martin & Hoffrage, Ulrich & Gigerenzer, Gerd, 1999. "Intransitivity of fast and frugal heuristics," Sonderforschungsbereich 504 Publications 99-49, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
    • Handle: RePEc:xrs:sfbmaa:99-49
    Note: Financial Support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. de Villiers, Rouxelle & Woodside, Arch G. & Marshall, Roger, 2016. "Making tough decisions competently: Assessing the value of product portfolio planning methods, devil’s advocacy, group discussion, weighting priorities, and evidenced-based information," Journal of Business Research, Elsevier, vol. 69(8), pages 2849-2862.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:xrs:sfbmaa:99-49. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Carsten Schmidt (email available below). General contact details of provider: https://edirc.repec.org/data/sfmande.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.