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HeuristicsThe Foundations of Adaptive Behavior$
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Gerd Gigerenzer, Ralph Hertwig, and Thorsten Pachur

Print publication date: 2011

Print ISBN-13: 9780199744282

Published to Oxford Scholarship Online: May 2011

DOI: 10.1093/acprof:oso/9780199744282.001.0001

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The Relative Success of Recognition-Based Inference in Multichoice Decisions

The Relative Success of Recognition-Based Inference in Multichoice Decisions

Chapter:
(p.352) Chapter 16 The Relative Success of Recognition-Based Inference in Multichoice Decisions
Source:
Heuristics
Author(s):

Rachel McCloy

C. Philip Beaman

Philip T. Smith

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199744282.003.0016

The utility of an “ecologically rational” recognition-based decision rule in multichoice decision problems is analyzed, varying the type of judgment required (greater or lesser). The maximum size and range of a counterintuitive advantage associated with recognition-based judgment (the “less-is-more effect”) are identified for a range of cue validity values. Greater ranges of the less-is-more effect occur when participants are asked which is the greatest of m choices (m 〉 2) than when asked which is the least. Less-is-more effects also have greater range for larger values of m. This implies that the classic two-alternative forced-choice task, as studied by Goldstein and Gigerenzer (2002), may not be the most appropriate test case for less-is-more effects.

Keywords:   psychology, decision making, heuristics, mathematical modeling, less-is-more

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