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On the descriptive validity and prescriptive utility of fast and frugal models

Published online by Cambridge University Press:  09 April 2001

Clare Harries and
Mandeep K. Dhami
Clare Harries
Affiliation:
Department of Psychology, University College London, London WC1E6BT, United Kingdom clare.harries@ucl.ac.uk www.psychol.ucl.ac.uk/clare/self.html
Mandeep K. Dhami
Affiliation:
Department of Psychology, City University, London EC1V 0HB, United Kingdom m.k.dhami@city.ac.uk
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Abstract

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Simple heuristics and regression models make different assumptions about behaviour. Both the environment and judgment can be described as fast and frugal. We do not know whether humans are successful when being fast and frugal. We must assess both global accuracy and the costs of Type I and II errors. These may be “smart heuristics that make researchers look simple.”

Information

Type
Open Peer Commentary
Information
Behavioral and Brain Sciences , Volume 23 , Issue 5 , October 2000, pp. 753 - 754
Copyright
© 2000 Cambridge University Press