Reason and Intuition
The Anchoring-and-Adjustment Heuristic
Base Quantities and Derived Quantities
The Availability Heuristic
Weighted Mean
Regression Toward the Mean
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Updated: May 6, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Gordon Pennycook1, Dries Trippas2, Simon J Handley2
1Department of Psychology.
People often neglect base-rate probabilities, favoring diagnostic information. This study finds base-rates may be processed by intuitive (Type 1) thinking, challenging previous assumptions about cognitive effort.
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