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When does ignorance make us smart? Additional factors guiding heuristic inference

Beaman, C.P., McCloy, R. and Smith, P.T. (2006) When does ignorance make us smart? Additional factors guiding heuristic inference. In: 28th Annual Conference of the Cognitive Science Society, Vancouver, British Columbia, Canada , pp. 54-58.

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Abstract/Summary

“Fast & frugal” heuristics represent an appealing way of implementing bounded rationality and decision-making under pressure. The recognition heuristic is the simplest and most fundamental of these heuristics. Simulation and experimental studies have shown that this ignorance-driven heuristic inference can prove superior to knowledge based inference (Borges, Goldstein, Ortman & Gigerenzer, 1999; Goldstein & Gigerenzer, 2002) and have shown how the heuristic could develop from ACT-R’s forgetting function (Schooler & Hertwig, 2005). Mathematical analyses also demonstrate that, under certain conditions, a “less-is-more effect” will always occur (Goldstein & Gigerenzer, 2002). The further analyses presented in this paper show, however, that these conditions may constitute a special case and that the less-is-more effect in decision-making is subject to the moderating influence of the number of options to be considered and the framing of the question.

Item Type:Conference or Workshop Item (Paper)
Divisions:Faculty of Life Sciences > School of Psychology and Clinical Language Sciences
ID Code:14241
Publisher:Erlbaum

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