Does intuition beat fast and frugal heuristics?: A systematic empirical analysis

Intuition: In Judgment and Decision Making

Volumn , Issue , 2011, Pages 309-325

  Glöckner, Andreas ^a  

^a MAX PLANCK INSTITUTE FOR RESEARCH ON COLLECTIVE GOODS   (Germany)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84920837877     PISSN: None     EISSN: None     Source Type: Book    
DOI: 10.4324/9780203838099     Document Type: Chapter

References (50)

1. Agor, W. (1986). The logic of intuitive decision making. Westport, CT: Greenwood Press.
2. Baron, J. (2000). Thinking and deciding (3rd ed.). Cambridge, England: Cambridge University Press.
3. Beach, L. R., & Mitchell, T. R. (1996). Image theory, the unifying perspective. In L. R. Beach (Ed.), Decision making in the workplace: A unified perspective (pp. 1–20). Hillsdale, NJ: Lawrence Erlbaum Associates, Inc.
4. Betsch, T. (2005). Preference theory: An affect based approach to recurrent decision making. In T. Betsch & S. Haberstroh (Eds.), The Routines of decision making (pp. 39–66). Mahwah, NJ: Lawrence Erlbaum Associates, Inc.
5. Brandstätter, E., Gigerenzer, G., & Hertwig, R. (2006). The priority heuristic: Making choices without trade-offs. Psychological Review, 113, 409–432.
6. Bröder, A. (2000). Assessing the empirical validity of the “take-the-best” heuristic as a model of human probabilistic inference. Journal of Experimental Psychology: Learning, Memory, and Cognition, 26, 1332–1346.
7. Bröder, A. (2003). Decision making with the “adaptive toolbox”: Influence of environmental structure, intelligence, and working memory load. Journal of Experimental Psychology: Learning, Memory, and Cognition, 29, 611–625.
8. Bröder, A., & Schiffer, S. (2003a). Bayesian strategy assessment in multi-attributive decision making. Journal of Behavioral Decision Making, 16, 193–213.
9. Bröder, A., & Schiffer, S. (2003b). Take the best versus simultaneous feature matching: Probabilistic inferences from memory and effects of representation format. Journal of Experimental Psychology: General, 132, 277–293.
10. Brunswik, E. (1955). Representative design and the probability theory in a functional psychology. Psychological Review, 62, 193–217.
11. Busemeyer, J. R., & Townsend, J. T. (1993). Decision field theory: A dynamic cognitive approach to decision making in an uncertain environment. Psychological Review, 100, 432–459.
12. Cartwright, D. (1941). Decision-time in relation to the differentiation of the phenomenal field. Psychological Review, 48, 425–442.
13. Cartwright, D., & Festinger, L. (1943). A quantitative theory of decision. Psychological Review, 50, 595–621.
14. Czerlinski, J., Gigerenzer, G., & Goldstein, D. G. (1999). How good are simple heuristics? In G. Gigerenzer, P. M. Todd, & the ABC Research Group, Simple heuristics that make us smart (pp. 97–118). New York: Oxford University Press.
15. Damasio, A. R. (1994). Descartes’ error: Emotion, reason, and the human brain. New York: Avon Books.
16. Dougherty, M. R. P., Gettys, C. F., & Ogden, E. E. (1999). MINER VA-DM: A memory process model for judgments of likelihood. Psychological Review, 106, 180–209.
17. Easterbrook, J. A. (1959). The effect of emotion on cue utilization and the organization of behavior. Psychological Review, 66, 187–201.
18. Edwards, W. (1954). The theory of decision making. Psychological Bulletin, 51, 380–417.
19. Festinger, L. (1964). Conflict, decision, and dissonance. Stanford, CA: Stanford University Press.
20. Gigerenzer, G. (2004). Fast and frugal heuristics: The tools of bounded rationality. In D. Koehler & N. Harvey (Eds.), Handbook of judgment and decision making (pp. 62–88). Oxford, England: Blackwell.
21. Gigerenzer, G., & Goldstein, D. G. (1996). Reasoning the fast and frugal way: Models of bounded rationality. Psychological Review, 103, 650–669.
22. Gigerenzer, G., Todd, P. M., & the ABC Research Group. (1999). Simple heuristics that make us smart. New York: Oxford University Press.
23. Glöckner, A. (2006). Automatische Prozesse bel Entscheidungen [Automatic processes in decision making]. Hamburg: Kovac.
24. Glöckner, A., & Betsch, T. (2006). Evidence for multiple-reason decision making under time limits. Manuscript submitted for publication.
25. Glöckner, A., Betsch, T., & Schindler, N. (2006). Construction of probabilistic inferences by constraint satisfaction. Manuscript submitted for publication.
26. Glöckner, A., & Hodges, S. D. (2006). Strategy selection in memory based decisions: Simplifying fast and frugal heuristics versus weighted compensatory strategies based on automatic information integration. Manuscript submitted for publication.
27. Goldstein, D. G, & Gigerenzer, G. (1999). The recognition heuristic: How ignorance makes us smart. In G. Gigerenzer, P. M. Todd, & the ABC Research Group, Simple heuristics that make us smart (pp. 37–58). New York: Oxford University Press.
28. Haidt, J. (2001). The emotional dog and its rational tail: A social intuitionist approach to moral judgment. Psychological Review, 108, 814–834.
29. Hammond, K. R., Hamm, R. M., Grassia, J., & Pearson, T. (1987). Direct comparison of the relative efficiency on intuitive and analytical cognition. IEEE Transactions on Systems, Man and Cybernetics, 17, 753–770.
30. Hastie, R., & Park, B. (1986). The relationship between memory and judgment depends on whether the judgment task is memory-based or on-line. Psychological Review, 93, 258–268.
31. Holyoak, K. J., & Simon, D. (1999). Bidirectional reasoning in decision making by constraint satisfaction. Journal of Experimental Psychology: General, 128, 3–31.
32. Kahneman, D., & Frederick, S. (2002). Representativeness revisited: Attribute substitution in intuitive judgment. In T. Gilovich, D. Griffin, & D. Kahneman (Eds.), Heuristics and biases: The psychology of intuitive judgment (pp. 49–81). New York: Cambridge University Press.
33. Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47, 263–292.
34. Köhler, W. (1947). Gestalt psychology: An introduction to new concepts in modern psychology. New York: Liveright.
35. Künzler, R., & Bakker, T. C. M. (2001). Female preferences for single and combined traits in computer animated stickleback males. Behavioral Ecology, 12, 681–685.
36. McClelland, J. L., & Rumelhart, D. E. (1981). An interactive model of context effects in letter perception: Part 1. An account of basic findings. Psychological Review, 88, 375–407.
37. Montgomery, H., & Svenson, O. (1983). A think-aloud study of dominance structuring in decision making. In R. Tietz (Ed.), Aspiration levels in bargaining and economic decision making (pp. 366–383). Berlin: Springer.
38. Newell, B. R., Weston, N. J., & Shanks, D. R. (2003). Empirical test of fast-and-frugal heuristic: not everyone “takes-the-best.” Organizational Behavior and Human Decision Processes, 91, 82–96.
39. Nisbett, R. E., & Wilson, T. D. (1977). Telling more than we can know: Verbal protocols on mental processes. Psychological Review, 84, 231–259.
40. Payne, J. W., Bettman, J. R., & Johnson, E. J. (1988). Adaptive strategy selection in decision making. Journal of Experimental Psychology: Learning, Memory, & Cognition, 14, 534–552.
41. Read, S. J., & Miller, L. C. (1998). On the dynamic construction of meaning: An interactive activation and competition model of social perception. In S. J. Read & L. C. Miller (Eds.), Connectionist models of social reasoning and social behavior (pp. 27–70). Mahwah, NJ: Lawrence Erlbaum Associates, Inc.
42. Read, S. J., Vanman, E. J., & Miller, L. C. (1997). Connectionism, parallel constraint satisfaction and gestalt principles: (Re)introducting cognitive dynamics to social psychology. Personality and Social Psychology Review, 1, 26–53.
43. Simon, D., Krawczyk, D. C., & Holyoak, K. J. (2004). Construction of preferences by constraint satisfaction. Psychological Science, 15, 331–336.
44. Simon, H. A. (1955). A behavioral model of rational choice. The Quarterly Journal of Economics, 69, 99–118.
45. Simon, H. A. (1982). Models of bounded rationality. Cambridge, MA: MIT Press.
46. Slovic, P., Finucane, M., Peters, E., & McGregor, D. G. (2002). The affect heuristic. In T. Gilovich, D. Griffin, & D. Kahneman (Eds.), Heuristics and biases: The psychology of intuitive judgment (pp. 397–420). New York: Cambridge University Press.
47. Thagard, P., & Millgram, E. (1995). Inference to the best plan: A coherence theory of decision. In A. Ram & D. B. Leake (Eds.), Goal-driven learning (pp. 439–454). Cambridge, MA: MIT Press.
48. Todd, P. M., & Gigerenzer, G. (2000). Précis of simple heuristics that make us smart. Behavioral and Brain Sciences, 23, 727–780.
49. von Neumann, J., & Morgenstern, O. (1944). Theory of games and economic behavior. Princeton, NJ: Princeton University Press.
50. Zakay, M. P. (1993). The impact of time perception processes on decision making under time stress. In O. Svenson & A. J. Maule (Eds.), Time pressure and stress in human judgement and decision making (pp. 59–72). New York: Plenum.