The Library
The similarity heuristic
Tools
Read, Daniel and Grushka-Cockayne, Yael (2010) The similarity heuristic. Journal of Behavioral Decision Making, Vol.24 (No.1). pp. 23-46. doi:10.1002/bdm.679 ISSN 0894-3257.
Research output not available from this repository.
Request-a-Copy directly from author or use local Library Get it For Me service.
Official URL: http://dx.doi.org/10.1002/bdm.679
Abstract
Decision makers often make snap judgments using fast-and-frugal decision rules called cognitive heuristics. Research into cognitive heuristics has been divided into two camps. One camp has emphasized the limitations and biases produced by the heuristics; another has focused on the accuracy of heuristics and their ecological validity. In this paper we investigate a heuristic proposed by the first camp, using the methods of the second. We investigate a subset of the representativeness heuristic we call the “similarity” heuristic, whereby decision makers who use it judge the likelihood that an instance is a member of one category rather than another by the degree to which it is similar to others in that category. We provide a mathematical model of the heuristic and test it experimentally in a trinomial environment. In this environment, the similarity heuristic turns out to be a reliable and accurate choice rule and both choice and response time data suggest it is also how choices are made. We conclude with a theoretical discussion of how our work fits in the broader “fast-and-frugal” heuristics program, and of the boundary conditions for the similarity heuristic. Copyright © 2009 John Wiley & Sons, Ltd.
Item Type: | Journal Article | ||||
---|---|---|---|---|---|
Divisions: | Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School |
||||
Journal or Publication Title: | Journal of Behavioral Decision Making | ||||
Publisher: | John Wiley & Sons Ltd. | ||||
ISSN: | 0894-3257 | ||||
Official Date: | 2010 | ||||
Dates: |
|
||||
Volume: | Vol.24 | ||||
Number: | No.1 | ||||
Page Range: | pp. 23-46 | ||||
DOI: | 10.1002/bdm.679 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access |
Request changes or add full text files to a record
Repository staff actions (login required)
View Item |