Multi-Source Information Acquisition with Optional Stopping

Kanarick, Arnold F.; Huntington, Jane M.; Petersen, Ronald C.

doi:10.1177/001872086901100408

Cited by 21 publications

(2 citation statements)

References 8 publications

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“…Collectively then, these prior findings suggest that people may adopt a so called "cheapskate mentality" in purchasing information, avoiding costly but higher yield purchases, and indeed such a finding has been observed by Kanarick et al (1969; see also Wickens et al, 2013 for a review).…”

Section: Figure 2 Three Types Of Information Purchasesmentioning

confidence: 84%

Purchasing Information to Reduce Uncertainty in Trajectory Prediction

Wickens

Herdener

Clegg

et al. 2016

Proceedings of the Human Factors and Ergonomics Society Annual

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Previous studies show people underestimate the amount of uncertainty in predictive states. This experiment tested an implication of such findings: that people will be less likely (than optimal) to acknowledge their uncertainty, and hence less likely to purchase information that reduces future uncertainty. In a trajectory prediction task, participants had the opportunity to reduce uncertainty by a constant amount by purchasing either an expensive (bad deal), neutral-cost, or cheap (bargain) sensor. Participants were biased, relative to expected value theory, in integrating cost with uncertainty reduction in their decisions to purchase. In contrast to our primary hypothesis that they would place more decision weighting on reducing the cost of the purchase, than on gaining information, our results revealed the opposite. The findings are interpreted in the context of models of attribute salience in decision-making.

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Section: Figure 2 Three Types Of Information Purchasesmentioning

confidence: 84%

Purchasing Information to Reduce Uncertainty in Trajectory Prediction

Wickens

Herdener

Clegg

et al. 2016

Proceedings of the Human Factors and Ergonomics Society Annual

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“…A few somewhat incidental observations are included below. Kanarick, Huntington, and Peterson (1969) point out that accuracy of a decision may increase with information acquired over time but that the tactical value of that decision may decrease concomitantly. They conclude that "subjects cannot adequately assess the utility of sources in relation to their cost" (p. 385).…”

mentioning

confidence: 99%

A Review of Literature Relevant to Unaided Tactical Decision Making

Taylor¹

1983

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Approved for public release; distribution unlimited.This report, as submitted by the contractor, has been cleared for release to Defense Technical Information Center (DTIC1 to comply with regulatory requirements. It has been given no primary distribution other then to DTIC and will be available only through DTIC or other reference services such as the National Technical Information Service (NTIS). The views, opinions, and/or findings contained In this report are those of the aughor(s) and should not be construed as an offical Department of the Army position, policy, or decision, unless so designated other official doc m ntation. 84 0. ,

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The functions of abstracts in the initial screening of technical documents by the user

Thompson¹

1973

J. Am. Soc. Inf. Sci.

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Abstracts (and other short surrogates for the complete text) of a document have been generally considered a valuable aid to the reader in quickly determining the relevance of a document (as well as, in some cases, serving as a substitute for reading the text, and as a separate surrogate in secondary services). A test of this hypothesis was conducted in the form of a field experiment in three military laboratories. Based on what a sample of 85 scientists and engineers reported on the time they took and the relevance judgments they made with respect to the documents which came across their desks over a four week period, there does not appear to be any evidence to support the assumption that abstracts, accompanying a document, have any significant effect.

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Multi-Source Information Acquisition with Optional Stopping

Cited by 21 publications

References 8 publications

Purchasing Information to Reduce Uncertainty in Trajectory Prediction

Purchasing Information to Reduce Uncertainty in Trajectory Prediction

A Review of Literature Relevant to Unaided Tactical Decision Making

The functions of abstracts in the initial screening of technical documents by the user

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