Five principles for studying people's use of heuristics

Abstract: The fast and frugal heuristics framework assumes that people rely on an adaptive toolbox of simple decision strategies—called heuristics—to make inferences, choices, estimations, and other decisions. Each of these heuristics is tuned to regularities in the structure of the task environment and each is capable of exploiting the ways in which basic cognitive capacities work. In doing so, heuristics enable adaptive behavior. In this article, we give an overview of the framework and formulate five principles that should guide the study of people’s adaptive toolbox. We emphasize that models of heuristics should be (i) precisely defined; (ii) tested comparatively; (iii) studied in line with theories of strategy selection; (iv) evaluated by how well they predict new data; and (vi) tested in the real world in addition to the laboratory. Key words: fast and frugal heuristics; experimental design; model testing As we write this article, international financial markets are in turmoil. Large banks are going bankrupt almost daily. It is a difficult situation for financial decision makers — regardless of whether they are lay investors trying to make small-scale profits here and there or professionals employed by the finance industry. To safeguard their investments, these decision makers need to be able to foresee uncertain future economic developments, such as which investments are likely to be the safest and which companies are likely to crash next. In times of rapid waves of potentially devastating financial crashes, these informed bets must often be made quickly, with little time for extensive information search or computationally demanding calculations of likely future returns. Lay stock traders in particular have to trust the contents of their memories, relying on incomplete, imperfec

An Ecological Model of Memory and Inferences

In this paper, we develop a memory model that predicts retrieval characteristics of real-world facts. First, we show how ACT-R’s memory model can be used to predict people’s knowledge about real-world objects. The model assumes the probability of retrieving a chunk of information about an object and the time to retrieve this information depend on the pattern of prior environmental exposure to the object. Second, we use frequencies of information appearing on the Internet as a proxy for what information people would encounter in their natural environment, outside the laboratory. In two Experiments, we use this model to account for subjects’ associative knowledge about real-world objects as well as the associated retrieval latencies. Third, in a computer simulation, we explore how such model predictions can be used to understand the workings and performance of decision strategies that operate on the contents of declarative memory

On theory integration: Toward developing affective components within cognitive architectures

In The Cognitive-Emotional Brain, Pessoa (2013) suggests that cognition and emotion should not be considered separately. We agree with this and argue that cognitive architectures can provide steady ground for this kind of theory integration and for investigating interactions among underlying cognitive processes. We briefly explore how affective components can be implemented and how neuroimaging measures can help validate models and influence theory development

Populating ACT-R's Declarative Memory with Internet Statistics

Decision situations are often characterized by uncertainty: we do not know the values of the different options on all attributes and have to rely on information stored in our memory to decide. Several strategies have been proposed to describe how people make inferences based on knowledge used as cues. The present research shows how declarative memory of ACT-R models could be populated based on internet statistics. This will allow to simulate the performance of decision strategies operating on declarative knowledge based on occurrences and co-occurrences of objects and cues in the environment

Unveiling the Lady in Black: Modeling and aiding intuition

The cognitive and decision science literature on modeling and aiding intuitions in organizations is rich, but segregated. This special issue offers a sample of that literature, stimulating exchange and inspiring intuitions about intuition. A total of 16 articles bring together diverse approaches, such as naturalistic-decision-making, heuristics-and-biases, dual-processes, ACT-R, CLARION, Brunswikian, and Quantum-Probability-Theory, many of them co-authored by their founders. The articles cover computational models and verbal theories; experimental and observational work; laboratory and naturalistic research. Comprising various domains, such as consulting, investment, law, police, and morality, the articles relate intuition to implicit cognition, emotions, scope insensitivity, expertise, and representative experimental design. In this article, we map intuition across poles such as Enlightenment/Romanticism, reason/emotion, objectivity/subjectivity, inferences/qualia, Taylorism/universal scholarship, System 2/System 1, dichotomies/dialectics, and science/art. We discuss intuitions as inspirations, instincts, inferences, and insights. Finally, we review the contributions to this special issue, placing them into historical, philosophical, and societal contexts

Reflections of the Social Environment in Chimpanzee Memory: Applying Rational Analysis Beyond Humans

In cognitive science, the rational analysis framework allows modelling of how physical and social environments impose information-processing demands onto cognitive systems. In humans, for example, past social contact among individuals predicts their future contact with linear and power functions. These features of the human environment constrain the optimal way to remember information and probably shape how memory records are retained and retrieved. We offer a primer on how biologists can apply rational analysis to study animal behaviour. Using chimpanzees (Pan troglodytes) as a case study, we modelled 19 years of observational data on their social contact patterns. Much like humans, the frequency of past encounters in chimpanzees linearly predicted future encounters, and the recency of past encounters predicted future encounters with a power function. Consistent with the rational analyses carried out for human memory, these findings suggest that chimpanzee memory performance should reflect those environmental regularities. In re-analysing existing chimpanzee memory data, we found that chimpanzee memory patterns mirrored their social contact patterns. Our findings hint that human and chimpanzee memory systems may have evolved to solve similar information-processing problems. Overall, rational analysis offers novel theoretical and methodological avenues for the comparative study of cognition