2008
DOI: 10.1007/bf03395637
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Adaptive Mechanisms for Treating Missing Information: A Simulation Study

Abstract: People often make inferences with incomplete information. Previous research has led to a mixed picture of how people treat missing information. To explain these results, the authors follow the Brunswikian perspective on human inference and hypothesize that the mechanism's accuracy for treating missing information depends on how it is distributed in a certain environment. The hypoth-esis is supported by the results of a simulation study, which also shows that the mechanism for treating missing information has a… Show more

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Cited by 21 publications
(30 citation statements)
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References 55 publications
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“…Gaissmaier, 2011;Gigerenzer, Hertwig & Pachur, 2011;Gilovich, Griffin & Kahneman, 2002). These rules allow people to reach 'good enough' judgments from limited information (Brunswik, 1952;Simon, 1990; see also Garcia-Retamero & Rieskamp, 2008Hogarth & Karelaia, 2007). The truth bias may be the result of using just such a simplified rule, informed by past experience with the situation.…”
Section: Individuating Cuesmentioning
confidence: 99%
“…Gaissmaier, 2011;Gigerenzer, Hertwig & Pachur, 2011;Gilovich, Griffin & Kahneman, 2002). These rules allow people to reach 'good enough' judgments from limited information (Brunswik, 1952;Simon, 1990; see also Garcia-Retamero & Rieskamp, 2008Hogarth & Karelaia, 2007). The truth bias may be the result of using just such a simplified rule, informed by past experience with the situation.…”
Section: Individuating Cuesmentioning
confidence: 99%
“…After allocating a different importance and value to each cue, the subjective value of each cue is multiplied by its importance weight. Finally the results of each multiplication are summed (e.g., Garcia-Retamero, Rieskamp, 2008;Bergert , Nosofsky, 2007). As a result, the WADD is very robust and reliable but time consuming and information demanding, which is not suitable under time and cognitive constraints (e.g., Rieskamp, Otto, 2006;Bergert, Nosofsky, 2007;Broder, Gaissmaier, 2007).…”
Section: Decision-making Strategiesmentioning
confidence: 99%
“…If the values of the most important cue are the same among the different alternatives, the next cue is examined according to the same procedure until one of the cues has a greater value for one of the alternatives. If all cues have the same value the decision maker will choose randomly among them (Gigerenzer, Todd, 2001;Hogarth, Karelaia, 2006;Rieskamp, Otto, 2006).…”
Section: Decision-making Strategiesmentioning
confidence: 99%
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