Titel
Decision making styles and the use of heuristics in decision making
Autor*in
Cristina del Campo
Department of Statistics and OR (Decision Analysis), Universidad Complutense de Madrid
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Abstract
Simple heuristics can be efficient ways of decision making and literature has shown that they are widely used in actual decision situations. Although many types of heuristics have been found and analyzed, there is only scarce research on factors that lead to the use of a particular heuristic. In the present paper, we describe an experiment to analyze whether the usage of a particular heuristic like recognition or take-the-best depends on individual decision making styles as identified by Scott and Bruce (Educ Psychol Meas 55(5):818–831, 1995). The experiment is based on a choice problem, in which different heuristics are likely to lead to different choices. Analyzing experimental data from two replications of the experiment in two different countries, we find some evidence that decision making styles influence the use of heuristics. However, considerable differences between the two experiments indicate that other, perhaps cultural, factors might also be important.
Stichwort
HeuristicsDecision making stylesTime pressureConsumer choiceMultivariate statistics
Objekt-Typ
Sprache
Englisch [eng]
Persistent identifier
Erschienen in
Titel
Journal of Business Economics
Band
86
Ausgabe
4
Seitenanfang
389
Seitenende
412
Publication
Springer Science + Business Media
Erscheinungsdatum
2016
Zugänglichkeit
Rechte
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