Behavioral Decision Theory: Processes of Judgment and Choice

Two-person sequential bargaining behavior with exogenous breakdown

“…In contrast, Neelin et al (1988) and Weg et al (1990) found no learning effects. While there is a common economic argument that people will learn to act rationally, otherwise they will be wiped out of the market, this argument has been qualified by Einhorn and Hogarth (1981) and Thaler (1986), who pointed out that learning takes place only when the individual receives timely and organized feedback about his/her performance. The third purpose of the present study, then, is to investigate the effects of experience on bargaining behavior.…”

Ethical Decision-Making by Consumers: The Roles of Product Harm and Consumer Vulnerability

“…The prime, or stimulus, serves as a point of reference or anchor. Earlier research found the decision-maker often exhibited a shift toward the prime as a decision-making anchor, rather than searching their own categories and assumptions to complete their evaluation (Einhorn and Hogarth, 1981;Kahneman and Tversky, 1988).…”

Environmental and Societal Impacts Group

“…Seemingly conflicting results in judgment research can be understood if one is careful t4D distinguish between competence and performance and t o recognize that performance depends on many context-specific factors. It appears that performance is not governed by a single judgment process that can be described by a few basic principles ~~ For reviews of the literature on judgment, see Lichtenstein (1971), Slovic Fischhoff andLichtenstein (1977), Hammond et al, (1980), Hogarth (1980), Einhorn and Hogarth (1981), and Kahneman e t ul., (1982). For reviews of judgment research specifically applied to forecasting, see Kaheneman and Tversky (1979), Hogarth and Makridakis (1981), Einhorn and Hogarth (1982), Evans (1982), and Sjoberg (1982).…”