Heuristics and Biases

Author: Thomas Gilovich
Publisher: Cambridge University Press
ISBN: 9780521796798
Format: PDF, Kindle
Download Now
Is our case strong enough to go to trial? Will interest rates go up? Can I trust this person? Such questions - and the judgments required to answer them - are woven into the fabric of everyday experience. This book, first published in 2002, examines how people make such judgments. The study of human judgment was transformed in the 1970s, when Kahneman and Tversky introduced their 'heuristics and biases' approach and challenged the dominance of strictly rational models. Their work highlighted the reflexive mental operations used to make complex problems manageable and illuminated how the same processes can lead to both accurate and dangerously flawed judgments. The heuristics and biases framework generated a torrent of influential research in psychology - research that reverberated widely and affected scholarship in economics, law, medicine, management, and political science. This book compiles the most influential research in the heuristics and biases tradition since the initial collection of 1982 (by Kahneman, Slovic, and Tversky).

Heuristics and Biases

Author: Thomas Gilovich
Publisher: Cambridge University Press
ISBN: 1139643665
Format: PDF, ePub, Mobi
Download Now
Is our case strong enough to go to trial? Will interest rates go up? Can I trust this person? Such questions - and the judgments required to answer them - are woven into the fabric of everyday experience. This book, first published in 2002, examines how people make such judgments. The study of human judgment was transformed in the 1970s, when Kahneman and Tversky introduced their 'heuristics and biases' approach and challenged the dominance of strictly rational models. Their work highlighted the reflexive mental operations used to make complex problems manageable and illuminated how the same processes can lead to both accurate and dangerously flawed judgments. The heuristics and biases framework generated a torrent of influential research in psychology - research that reverberated widely and affected scholarship in economics, law, medicine, management, and political science. This book compiles the most influential research in the heuristics and biases tradition since the initial collection of 1982 (by Kahneman, Slovic, and Tversky).

Heuristics and Biases

Author: Thomas Gilovich
Publisher: Cambridge : Cambridge University Press
ISBN: 9780521792608
Format: PDF, Docs
Download Now
This 2002 book compiles psychologists' best attempts to answer important questions about intuitive judgment.

Judgment Under Uncertainty

Author: Daniel Kahneman
Publisher: Cambridge University Press
ISBN: 9780521284141
Format: PDF
Download Now
The thirty-five chapters in this book describe various judgmental heuristics and the biases they produce, not only in laboratory experiments but in important social, medical, and political situations as well. Individual chapters discuss the representativeness and availability heuristics, problems in judging covariation and control, overconfidence, multistage inference, social perception, medical diagnosis, risk perception, and methods for correcting and improving judgments under uncertainty. About half of the chapters are edited versions of classic articles; the remaining chapters are newly written for this book. Most review multiple studies or entire subareas of research and application rather than describing single experimental studies. This book will be useful to a wide range of students and researchers, as well as to decision makers seeking to gain insight into their judgments and to improve them.

Choices Values and Frames

Author: Daniel Kahneman
Publisher: Cambridge University Press
ISBN: 1107651069
Format: PDF, ePub, Mobi
Download Now
This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as helping to explain many complex, real-world puzzles. In this volume, it is brought to bear on phenomena as diverse as the principles of legal compensation, the equity premium puzzle in financial markets, and the number of hours that New York cab drivers choose to drive on rainy days. Theoretically elegant and empirically robust, this volume shows how prospect theory has matured into a new science of decision making.

Thinking Fast and Slow

Author: Daniel Kahneman
Publisher: Farrar, Straus and Giroux
ISBN: 1429969350
Format: PDF, Kindle
Download Now
Major New York Times bestseller Winner of the National Academy of Sciences Best Book Award in 2012 Selected by the New York Times Book Review as one of the ten best books of 2011 A Globe and Mail Best Books of the Year 2011 Title One of The Economist's 2011 Books of the Year One of The Wall Street Journal's Best Nonfiction Books of the Year 2011 2013 Presidential Medal of Freedom Recipient Kahneman's work with Amos Tversky is the subject of Michael Lewis's The Undoing Project: A Friendship That Changed Our Minds In the international bestseller, Thinking, Fast and Slow, Daniel Kahneman, the renowned psychologist and winner of the Nobel Prize in Economics, takes us on a groundbreaking tour of the mind and explains the two systems that drive the way we think. System 1 is fast, intuitive, and emotional; System 2 is slower, more deliberative, and more logical. The impact of overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the profound effect of cognitive biases on everything from playing the stock market to planning our next vacation—each of these can be understood only by knowing how the two systems shape our judgments and decisions. Engaging the reader in a lively conversation about how we think, Kahneman reveals where we can and cannot trust our intuitions and how we can tap into the benefits of slow thinking. He offers practical and enlightening insights into how choices are made in both our business and our personal lives—and how we can use different techniques to guard against the mental glitches that often get us into trouble. Winner of the National Academy of Sciences Best Book Award and the Los Angeles Times Book Prize and selected by The New York Times Book Review as one of the ten best books of 2011, Thinking, Fast and Slow is destined to be a classic.

International Differences in Well Being

Author: Ed Diener
Publisher: Oxford University Press
ISBN: 019988983X
Format: PDF, Kindle
Download Now
This book brings together the best of current global research on the measurement and understanding of international differences in well-being

The Heuristics Debate

Author: Mark Kelman
Publisher: Oxford University Press, USA
ISBN: 0199755604
Format: PDF, Docs
Download Now
All of us use heuristics--that is, we reach conclusions using shorthand cues without using or analyzing all of the available information. Heuristics pervade all aspects of life, from the most mundane practices to more important ones, like economic decision making and politics. People may decide how fast to drive merely by mimicking others around them or decide in which safety project to invest public resources based on the past disasters most readily called to mind. Not surprisingly, opinions vary about our tendency to use heuristics. The 'heuristics and biases' school argues that the practice often leads to outcomes that are not ideal: people act on too little information, make incorrect assumptions, and don't understand the consequences of their actions. The 'fast and frugal' school contends that while mistakes will inevitably occur, the benefits generally outweigh the costs--not only because using heuristics enables us to reach judgments given realistic constraints of time and attention, but because heuristics users often outperform those using more conventionally rational methods. In The Heuristics Debate, Mark Kelman takes a step back from the chaos of competing academic debates to consider what we have learned--and still need to learn--about the way people actually make decisions. In doing so, Kelman uncovers a powerful tool for understanding the relationship between human reasoning and public policy. Can we figure out more optimal modes of disclosure to consumers or better rules of evidence and jury instructions if we understand more accurately how people process information? Can we figure out how best to increase compliance with law if we understand how people make decisions about whether or not to comply? Alongside a penetrating analysis of the various schools of thought on heuristics, Kelman offers a comprehensive account of how distinct conceptions of the role and nature of heuristic reasoning shape--and misshape--law and policy in America. The Heuristics Debate is a groundbreaking work that will change how we think about the relationship between human psychology, the law, and public policy.

Heuristic Research

Author: Clark Moustakas
Publisher: SAGE Publications
ISBN: 1506304982
Format: PDF, Mobi
Download Now
Well-organized and well-referenced, this book gives a clear presentation of heuristic methodology as a systematic form of qualitative research. Investigators of human experiences will find this book invaluable as a research guide. The author illustrates how heuristic concepts and processes form components of the research design and become the basis for a methodology. There is a clear explanation of how heuristic inquiry works in practice and the actual process of conducting a human science investigation is described in detail.

The Construction of Preference

Author: Sarah Lichtenstein
Publisher: Cambridge University Press
ISBN: 1139457780
Format: PDF, ePub
Download Now
One of the main themes that has emerged from behavioral decision research during the past three decades is the view that people's preferences are often constructed in the process of elicitation. This idea is derived from studies demonstrating that normatively equivalent methods of elicitation (e.g., choice and pricing) give rise to systematically different responses. These preference reversals violate the principle of procedure invariance that is fundamental to all theories of rational choice. If different elicitation procedures produce different orderings of options, how can preferences be defined and in what sense do they exist? This book shows not only the historical roots of preference construction but also the blossoming of the concept within psychology, law, marketing, philosophy, environmental policy, and economics. Decision making is now understood to be a highly contingent form of information processing, sensitive to task complexity, time pressure, response mode, framing, reference points, and other contextual factors.