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The relative success of recognition-based inference in multichoice decisions
Rachel McCloy1, C Philip Beaman, Philip T Smith
1Department of Psychology, University of Reading.
Abstract:
The utility of an "ecologically rational" recognition-based decision rule in multichoice decision problems is analyzed, varying the type of judgment required (greater or lesser). The maximum size and range of a counterintuitive advantage associated with recognition-based judgment (the "less-is-more effect") is identified for a range of cue validity values. Greater ranges of the less-is-more effect occur when participants are asked which is the greatest of m choices (m > 2) than which is the least. Less-is-more effects also have greater range for larger values of m. This implies that the classic two-alternative forced choice task, as studied by Goldstein and Gigerenzer (2002), may not be the most appropriate test case for less-is-more effects.
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