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      A perspective on judgment and choice: Mapping bounded rationality.

      American Psychologist
      American Psychological Association (APA)

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          Abstract

          Early studies of intuitive judgment and decision making conducted with the late Amos Tversky are reviewed in the context of two related concepts: an analysis of accessibility, the ease with which thoughts come to mind; a distinction between effortless intuition and deliberate reasoning. Intuitive thoughts, like percepts, are highly accessible. Determinants and consequences of accessibility help explain the central results of prospect theory, framing effects, the heuristic process of attribute substitution, and the characteristic biases that result from the substitution of nonextensional for extensional attributes. Variations in the accessibility of rules explain the occasional corrections of intuitive judgments. The study of biases is compatible with a view of intuitive thinking and decision making as generally skilled and successful.

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          Most cited references145

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          Prospect Theory: An Analysis of Decision under Risk

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            Advances in prospect theory: Cumulative representation of uncertainty

            Journal of Risk and Uncertainty, 5(4), 297-323
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              A Behavioral Model of Rational Choice

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                Author and article information

                Journal
                American Psychologist
                American Psychologist
                American Psychological Association (APA)
                1935-990X
                0003-066X
                2003
                2003
                : 58
                : 9
                : 697-720
                Article
                10.1037/0003-066X.58.9.697
                14584987
                d5b0e2da-5fe1-4463-81a4-61afce3b6cec
                © 2003
                History

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