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Fast and frugal heuristics and naturalistic decision making: a review of their commonalities and differences

journal contribution
posted on 06.06.2016 by Yixing Shan, Lili Yang
© 2016 Taylor & Francis Both the fast and frugal heuristics (FFHs) and the naturalistic decision making (NDM) research programmes have identified important areas of inquiry previously neglected in the traditional study of human judgment and decision making, and have greatly contributed to the understanding of people's real-world decision making under environmental constraints. The two programmes share similar theoretical arguments regarding the rationality, optimality, and role of experience in decision making. Their commonalities have made them appealing to each other, and efforts have been made, by their leading academics, to promote synergy and integration. However, there has been little progress towards this during the last decade. This paper seeks to address this gap by seeking to better understand their commonalities and differences. To do so, literature relating to the two programmes is reviewed. The findings of the review indicated that an integration of the two could enhance FFHs' field research in applied settings, facilitate its investigation on boundary conditions of people's decision strategy selection, enable NDM to embrace emerging research opportunities in the age of big data, as well as permit each programme to enlighten the research topics and to validate the research findings of the other.

History

School

  • Business and Economics

Department

  • Business

Published in

Thinking and Reasoning

Pages

1 - 23

Citation

SHAN, Y. and YANG, L., 2017. Fast and frugal heuristics and naturalistic decision making: a review of their commonalities and differences. Thinking and Reasoning, 23 (1), pp. 10-32.

Publisher

© Taylor & Francis

Version

VoR (Version of Record)

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/

Publication date

2017

Notes

This paper is in closed access.

ISSN

1354-6783

eISSN

1464-0708

Language

en

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