Thursday, 12 November 2009

Further thoughts on weeks 2 & 3

Returning to the topic of "fast and frugal" decision making, I want to pick up on David's comment.

If I were describing Franklin's Rule and the Matching Heuristic to someone who didn't know anything about the subject matter, I might try something like the following...

...if you think of a "cue" as an individual piece of information that is relevant to a particular decision, then, if you were using Franklin's rule to come to a decision, you would consider every single cue and it's importance (what we call "weighting") and combine all of this information to make the decision. However, if you were using the Matching Heuristic, you would only search through some of the cues and base your decision on the first one that you came to that seemed to have a particularly relevant value...

Comments sought on how useful this description is...

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