Data reasoning is an essential component of scientific reasoning, as a component of evidence evaluation. In this paper, we outline a model of scientific data reasoning that describes how data sensemaking underlies data reasoning. Data sensemaking, a relatively automatic process rooted in perceptual mechanisms that summarize large quantities of…

While the influence of presentation formats have been widely studied in Bayesian reasoning tasks, we present the first systematic investigation of how presentation formats influence information search decisions. Four experiments were conducted across different probabilistic environments, where subjects (N = 2,858) chose between 2 possible search…

Interacting with a system is key to uncovering its causal structure. A computational framework for interventional causal learning has been developed over the last decade, but how real causal learners might achieve or approximate the computations entailed by this framework is still poorly understood. Here we describe an interactive computer task in…

Additive integration of information is ubiquitous in judgment and has been shown to be effective even when multiplicative rules of probability theory are prescribed. We explore the generality of these findings in the context of estimating probabilities of success in contests. We first define a normative model of these probabilities that takes…

Recent developments in agent-based modeling as a method of systems analysis and optimization indicate that students in business analytics need an introduction to the terminology, concepts, and framework of agent-based modeling. This article presents an active learning exercise for MBA students in business analytics that demonstrates agent-based…

The debate about whether making a risky choice is based on a weighting and adding process has a long history and is still unresolved. To address this long-standing controversy, we developed a comparative paradigm. Participants' eye movements in 2 risky choice tasks that required participants to choose between risky options in single-play and…

A new process model of the interplay between memory and judgment processes was recently suggested, assuming that retrieval fluency--that is, the speed with which objects are recognized--will determine inferences concerning such objects in a single-cue fashion. This aspect of the fluency heuristic, an extension of the recognition heuristic, has…

Previous research has developed a variety of theories explaining when and why people's decisions under risk deviate from the standard economic view of expected utility maximization. These theories are limited in their predictive accuracy in that they do not explain the probabilistic nature of preferential choice, that is, why an individual makes…

Comments on the article by E. Brandstatter, G. Gigerenzer, and R. Hertwig (2006). Resolution of debates in cognition usually comes from the introduction of constraints in the form of new data about either the process or representation. Decision research, in contrast, has relied predominantly on testing models by examining their fit to choices. The…

A heuristic approach to explaining of the Black-Scholes option pricing model in undergraduate classes is described. The approach draws upon the method of protocol analysis to encourage students to "think aloud" so that their mental models can be surfaced. It also relies upon extensive visualizations to communicate relationships that are…

This project reconciles historically distinct paradigms at the interface between individual and social choice theory, as well as between rational and behavioral decision theory. The authors combine a utility-maximizing prescriptive rule for sophisticated approval voting with the ignorance prior heuristic from behavioral decision research and two…

Proposes a probability heuristic model for syllogistic reasoning and confirms the rationality of this heuristic by an analysis of the probabilistic validity of syllogistic reasoning that treats logical inference as a limiting case of probabilistic inference. Meta-analysis and two experiments involving 40 adult participants and using generalized…

Bernoulli's framework of expected utility serves as a model for various psychological processes, including motivation, moral sense, attitudes, and decision making. To account for evidence at variance with expected utility, the authors generalize the framework of fast and frugal heuristics from inferences to preferences. The priority heuristic…

Reports information retrieval experiments comparing the performance of a probabilistic retrieval model that incorporates interdocument links with the simpler spreading activation strategy. Results indicated that the overall improvement obtained by including hypertext links in the retrieval model was low. (30 references) (EA)

This paper illustrates a model of the layperson's reasoning patterns under conditions of uncertainty, the "outcome approach," which was developed from analysis of videotaped problem-solving interviews with 16 undergraduate students. According to the outcome approach, the goal in questions of uncertainty is to predict the outcome of an…