Examining the Priority Heuristic in Conditions of Resource Need Levels

Abstract

Within the domain of risky decision making, there are a number of predictive models which are consistent with the hypothesis that human minds are molded for specific behavioral patterns based on environmental cues. Two models are the priority heuristic and risk sensitive foraging. Using a modified version of the traditional risky choice gambles paradigm, a study was designed to tease apart specific predictions made by each of these two models. It was discovered that the best explanation for choice behavior was consistent with risk sensitive foraging. This was true for risky preferences in gambles. Also, decision time predictions from the priority heuristic were not supported. Collectively, this may show additional support for risk-sensitivity driving some human behaviors. It may also carve out the boundaries for the proper "ecology" of the priority heuristic.