The heuristics-and-biases inventory: An open-source tool to explore individual differences in rationality

Area of Science:

• Cognitive Psychology
• Behavioral Economics
• Decision Science

Background:

• Growing interest in individual differences in judgment and decision-making deviations from normative standards.
• Previous research has identified numerous heuristics and biases affecting human rationality.
• Need for standardized and reliable measures for studying these cognitive phenomena.

Purpose of the Study:

• To systematically review existing heuristics-and-biases tasks measuring individual differences and reliability.
• To identify gaps in reliable measurement for specific biases.
• To establish an accessible online resource (The Heuristics-and-Biases Inventory) for future research.

Main Methods:

• Systematic literature review of studies measuring individual differences in heuristics-and-biases tasks.
• Analysis of 108 studies measuring 41 distinct biases.
• Centralization of task materials into an online inventory.

Main Results:

• Identified 41 biases with measured individual differences and reliability across 108 studies.
• Highlighted the need for further development of reliable measures for certain biases.
• Launched The Heuristics-and-Biases Inventory (HBI) as a centralized resource.

Conclusions:

• The HBI facilitates future research on the structure of rationality and individual differences in biases.
• The inventory can aid investigations into the relationship between biases, cognitive ability, personality, and real-world outcomes.
• Recommendations for improving and expanding the HBI are provided for future research endeavors.