Simple Heuristics in a Social World 2012
DOI: 10.1093/acprof:oso/9780195388435.003.0002
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Simple Heuristics in a Social Game

Abstract: The dominant behavior observed in social games such as the ultimatum game, the dictator game, and public good games violates the classical assumption in economics of purely selfish preferences. To account for this behavior, economists have proposed social preference models, which introduce nonselfish motives as additional arguments and parameters in the utility function. Like classical utility models, social preference models focus on behavior at the expense of describing underlying cognitive processes, conten… Show more

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Cited by 26 publications
(37 citation statements)
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“…Such dialogue needs to extend beyond the usual approach of plugging, for example, prospect theory, into the maximization toolbox. Additionally, the promising work on group decision making and fast-and-frugal heuristics (Hertwig, Hoffrage, and the ABC Research Group 2013) seems as yet not to be developed enough to provide guidance on regulating systems such as markets and organizations. Much more remains to be done and we hope that this article stimulates more effort in this direction.…”
Section: Resultsmentioning
confidence: 99%
“…Such dialogue needs to extend beyond the usual approach of plugging, for example, prospect theory, into the maximization toolbox. Additionally, the promising work on group decision making and fast-and-frugal heuristics (Hertwig, Hoffrage, and the ABC Research Group 2013) seems as yet not to be developed enough to provide guidance on regulating systems such as markets and organizations. Much more remains to be done and we hope that this article stimulates more effort in this direction.…”
Section: Resultsmentioning
confidence: 99%
“…For example, there might be differences in the perception of medical authority, as the shift from authoritative to shared decision making (Hertwig & Hoffrage, 2013) might be in various stages of progress in various countries. There is currently very little data on how Slovak parents make decisions about vaccination.…”
Section: Vaccination Decisions In the Slovak Populationmentioning
confidence: 99%
“…The underlying assumption of this study is that there are enough similarities between individuals and groups to apply the framework of ecological rationality and the adaptive toolbox (Gigerenzer et al, 1999;Hertwig, Hoffrage, & the ABC Research Group, 2013;Todd, Gigerenzer, & the ABC Research Group, 2012) also on the group level. Of course, the inference of individual-group similarity is an empirical question (Hinsz et al, 1997).…”
Section: Limitations and Open Questionsmentioning
confidence: 99%