Simple heuristics that make us dumb

Behavioral and Brain Sciences 23 (5):758-758 (2000)
Abstract
The simple heuristics that may indeed usually make us smart–or at least smart enough–in contexts of individual choice will sometimes make us dumb, especially in contexts of social choice. Here each individual choice (or vote) has little impact on the overall choice, although the overall choice is compounded out of the individual choices. I use an example (risk aversion) to illustrate the point.
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DOI 10.1017/S0140525X00413440
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