Prospects behind bars: Analyzing decisions under risk in a prison population

Pachur, Thorsten; Hanoch, Yaniv; Gummerum, Michaela

doi:10.3758/pbr.17.5.630

Cited by 36 publications

(46 citation statements)

References 36 publications

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“…Analyses of simple strategies have shown that this is not necessarily the case. For example, a person recognizing many Swiss cities can, if recognition is a good predictor, be less accurate in judging the sizes of Swiss cities than a person recognizing fewer cities – the less-is-more effect (Goldstein and Gigerenzer, 2002; for a review, see Pachur, 2010). The reason is that if many cities are recognized, the recognition heuristic cannot be applied (because recognition does not discriminate) and other, potentially less valid predictors need to be recruited – leading to lower inferential accuracy.…”

Section: Ecological Rationality: the Fit Between Mind And Environmentmentioning

confidence: 99%

Ecological Rationality: A Framework for Understanding and Aiding the Aging Decision Maker

Mata¹,

Pachur²,

Helversen³

et al. 2012

Front. Neurosci.

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The notion of ecological rationality sees human rationality as the result of the adaptive fit between the human mind and the environment. Ecological rationality focuses the study of decision making on two key questions: First, what are the environmental regularities to which people’s decision strategies are matched, and how frequently do these regularities occur in natural environments? Second, how well can people adapt their use of specific strategies to particular environmental regularities? Research on aging suggests a number of changes in cognitive function, for instance, deficits in learning and memory that may impact decision-making skills. However, it has been shown that simple strategies can work well in many natural environments, which suggests that age-related deficits in strategy use may not necessarily translate into reduced decision quality. Consequently, we argue that predictions about the impact of aging on decision performance depend not only on how aging affects decision-relevant capacities but also on the decision environment in which decisions are made. In sum, we propose that the concept of the ecological rationality is crucial to understanding and aiding the aging decision maker.

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Section: Ecological Rationality: the Fit Between Mind And Environmentmentioning

confidence: 99%

Ecological Rationality: A Framework for Understanding and Aiding the Aging Decision Maker

Mata¹,

Pachur²,

Helversen³

et al. 2012

Front. Neurosci.

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“…Examining the recognition heuristic analytically, Goldstein and Gigerenzer (2002) showed that a less-is-more effect will emerge in a comparison task if (but not only if) the recognition validity (α) is higher than the knowledge validity (β), under the assumption that the validities are constant across different levels of the number of recognized objects, n (although they showed in computer simulations that the less-is-more effect can also occur when α is not constant). More recently, Pachur (2010) highlighted that the less-is-more effect is strongly reduced if people who recognize more objects also have a higher knowledge validity, that is, if n and the knowledge validity are positively correlated (see also Smithson, 2010). Finally, the less-is-more effect is also influenced by the quality of recognition memory.…”

Section: The Foundations and Implications Of The Recognition Heuristicmentioning

confidence: 99%

The Recognition Heuristic: A Review of Theory and Tests

Pachur¹,

Todd²,

Martignon³

et al. 2011

Front. Psychology

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The recognition heuristic is a prime example of how, by exploiting a match between mind and environment, a simple mental strategy can lead to efficient decision making. The proposal of the heuristic initiated a debate about the processes underlying the use of recognition in decision making. We review research addressing four key aspects of the recognition heuristic: (a) that recognition is often an ecologically valid cue; (b) that people often follow recognition when making inferences; (c) that recognition supersedes further cue knowledge; (d) that its use can produce the less-is-more effect – the phenomenon that lesser states of recognition knowledge can lead to more accurate inferences than more complete states. After we contrast the recognition heuristic to other related concepts, including availability and fluency, we carve out, from the existing findings, some boundary conditions of the use of the recognition heuristic as well as key questions for future research. Moreover, we summarize developments concerning the connection of the recognition heuristic with memory models. We suggest that the recognition heuristic is used adaptively and that, compared to other cues, recognition seems to have a special status in decision making. Finally, we discuss how systematic ignorance is exploited in other cognitive mechanisms (e.g., estimation and preference).

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“…Willemsen, Böckenholt, & Johnson, 2011). Understanding the cognitive processes, however, is key for predicting and improving behavior (e.g., Payne & Venkatraman, 2011; see also Glöckner & Pachur, 2012;Pachur, Hanoch, & Gummerum, 2010). Toward the goal of developing a more process-oriented account of the endowment effect, it has been speculated that buyers and sellers focus their attention on different aspects of the target object (e.g., Carmon & Ariely, 2000).…”

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Constructing preference from experience: The endowment effect reflected in external information search.

Pachur

Scheibehenne

2012

Journal of Experimental Psychology: Learning, Memory, and Cogni

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People often attach a higher value to an object when they own it (i.e., as seller) compared with when they do not own it (i.e., as buyer)-a phenomenon known as the endowment effect. According to recent cognitive process accounts of the endowment effect, the effect is due to differences between sellers and buyers in information search. Whereas previous investigations have focused on search order and internal search processes (i.e., in memory), we used a sampling paradigm to examine differences in search termination in external search. We asked participants to indicate selling and buying prices for monetary lotteries in a within-subject design. In an experience condition, participants had to learn about the possible outcomes and probabilities of the lotteries by experiential sampling. As hypothesized, sellers tended to terminate search after sampling high outcomes, whereas buyers tended to terminate search after sampling low outcomes. These differences in stopping behavior translated into samples of the lotteries that were differentially distorted for sellers and buyers; the amount of the distortion was predictive of the resulting size of the endowment effect. In addition, for sellers search was more extended when high outcomes were rare compared with when low outcomes were rare. Our results add to the increasing evidence that the endowment effect is due, in part, to differences in predecisional information search.

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Prospects behind bars: Analyzing decisions under risk in a prison population

Cited by 36 publications

References 36 publications

Ecological Rationality: A Framework for Understanding and Aiding the Aging Decision Maker

Ecological Rationality: A Framework for Understanding and Aiding the Aging Decision Maker

The Recognition Heuristic: A Review of Theory and Tests

Constructing preference from experience: The endowment effect reflected in external information search.

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