Theory and Decision 52 (1):29-71 (2002)
|Abstract||This article provides an overview of recent results on lexicographic, linear, and Bayesian models for paired comparison from a cognitive psychology perspective. Within each class, we distinguish subclasses according to the computational complexity required for parameter setting. We identify the optimal model in each class, where optimality is defined with respect to performance when fitting known data. Although not optimal when fitting data, simple models can be astonishingly accurate when generalizing to new data. A simple heuristic belonging to the class of lexicographic models is Take The Best (Gigerenzer & Goldstein (1996) Psychol. Rev. 102: 684). It is more robust than other lexicographic strategies which use complex procedures to establish a cue hierarchy. In fact, it is robust due to its simplicity, not despite it. Similarly, Take The Best looks up only a fraction of the information that linear and Bayesian models require; yet it achieves performance comparable to that of models which integrate information. Due to its simplicity, frugality, and accuracy, Take The Best is a plausible candidate for a psychological model in the tradition of bounded rationality. We review empirical evidence showing the descriptive validity of fast and frugal heuristics|
|Keywords||No keywords specified (fix it)|
|Through your library||Configure|
Similar books and articles
Laura Martignon & Michael Schmitt (1999). Simplicity and Robustness of Fast and Frugal Heuristics. Minds and Machines 9 (4):565-593.
Clare Harries & Mandeep K. Dhami (2000). On the Descriptive Validity and Prescriptive Utility of Fast and Frugal Models. Behavioral and Brain Sciences 23 (5):753-754.
James Shanteau & Rickey P. Thomas (2000). Fast and Frugal Heuristics: What About Unfriendly Environments? Behavioral and Brain Sciences 23 (5):762-763.
Gerd Gigerenzer (1999). Simple Heuristics That Make Us Smart. Oxford University Press.
José Luis Bermúdez (2000). Rationality, Logic, and Fast and Frugal Heuristics. Behavioral and Brain Sciences 23 (5):744-745.
Peter M. Todd & Gerd Gigerenzer (2000). Précis of Simple Heuristics That Make Us Smart. Behavioral and Brain Sciences 23 (5):727-741.
Richard Cooper (2000). Simple Heuristics Could Make Us Smart; but Which Heuristics Do We Apply When? Behavioral and Brain Sciences 23 (5):746-746.
Malcolm R. Forster (1999). How Do Simple Rules `Fit to Reality' in a Complex World? Minds and Machines 9 (4):543-564.
X. T. Wang (2000). From Simon 's Scissors for Rationality to Abc's Adaptive Toolbox. Behavioral and Brain Sciences 23 (5):765-766.
Mandeep K. Dhami & Clare Harries (2001). Fast and Frugal Versus Regression Models of Human Judgement. Thinking and Reasoning 7 (1):5 – 27.
R. Duncan Luce (2000). Fast, Frugal, and Surprisingly Accurate Heuristics. Behavioral and Brain Sciences 23 (5):757-758.
Aidan Feeney (2000). Simple Heuristics: From One Infinite Regress to Another? Behavioral and Brain Sciences 23 (5):749-750.
Benjamin E. Hilbig & Tobias Richter (2011). Homo Heuristicus Outnumbered: Comment on Gigerenzer and Brighton (2009). Topics in Cognitive Science 3 (1):187-196.
Thom Baguley & S. Ian Robertson (2000). Where Does Fast and Frugal Cognition Stop? The Boundary Between Complex Cognition and Simple Heuristics. Behavioral and Brain Sciences 23 (5):742-743.
Added to index2010-09-02
Total downloads6 ( #147,054 of 556,837 )
Recent downloads (6 months)1 ( #64,847 of 556,837 )
How can I increase my downloads?