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| Author: | Lejarraga, T. |
| Title: | When experience is better than description: Time delays and complexity |
| Journal: | Journal of Behavioral Decision Making
2010 : VOL. 23:1, p. 100-116 |
| Index terms: | decision making models |
| Freeterms: | decisions from experience frequency judgments individual differences preference for experience |
| Language: | eng |
| Abstract: | The study examines two extensions to the no-cost sampling paradigm highlighting additional positive aspects of experience. It is explored whether the natural human capacity to encode past frequencies of events favours experience over description as a source of information in inference task. This notion is also extended to contexts of increasing complexity. In detail, decision makers' preference for information from experience as a function of task complexity, controlling for individual differences inrationality and numeracy, is studied. |
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