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ERIC Number: EJ1165881
Record Type: Journal
Publication Date: 2018-Jan
Pages: 10
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-0278-7393
EISSN: N/A
Fast or Frugal, but Not Both: Decision Heuristics under Time Pressure
Bobadilla-Suarez, Sebastian; Love, Bradley C.
Journal of Experimental Psychology: Learning, Memory, and Cognition, v44 n1 p24-33 Jan 2018
Heuristics are simple, yet effective, strategies that people use to make decisions. Because heuristics do not require all available information, they are thought to be easy to implement and to not tax limited cognitive resources, which has led heuristics to be characterized as fast-and-frugal. We question this monolithic conception of heuristics by contrasting the cognitive demands of two popular heuristics, Tallying and Take-the-Best. We contend that heuristics that are frugal in terms of information usage may not always be fast because of the attentional control required to implement this focus in certain contexts. In support of this hypothesis, we find that Take-the-Best, while being more frugal in terms of information usage, is slower to implement and fares worse under time pressure manipulations than Tallying. This effect is then reversed when search costs for Take-the-Best are reduced by changing the format of the stimuli. These findings suggest that heuristics are heterogeneous and should be unpacked according to their cognitive demands to determine the circumstances a heuristic best applies.
American Psychological Association. Journals Department, 750 First Street NE, Washington, DC 20002. Tel: 800-374-2721; Tel: 202-336-5510; Fax: 202-336-5502; e-mail: order@apa.org; Web site: http://www.apa.org
Publication Type: Journal Articles; Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: National Institutes of Health (DHHS)
Authoring Institution: N/A
Grant or Contract Numbers: 1P01HD080679