Presenter:  William Messner
Presentation type:  Poster
Presentation date/time:  7/26  5:30-6:30
 
Evaluating the Priority Heuristic: A Comparison of Decision Making Models
 
William Messner, University of Ilinois at Urbana-Champaign
Michel Regenwetter, University of Ilinois at Urbana-Champaign
Clintin Davis-Stober, University of Ilinois at Urbana-Champaign
 
In their 2006 Psychological Review paper, Brandsttter, Gigerenzer, and Hertwig propose the Priority Heuristic, a model of decision making over paired prospects. They compare the Priority Heuristic to several models of decision making (e.g. Cumulative Prospect Theory). We discuss several problems with their method and propose an alternate framework to compare decision models.