Intransitivity of fast and frugal heuristics

Martin Lages (), Ulrich Hoffrage () and Gerd Gigerenzer ()
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Martin Lages: MPI for Human Development, Berlin, Postal: Lentzeallee 94, 14195 Berlin
Ulrich Hoffrage: Sonderforschungsbereich 504, Postal: L 13, 15, D-68131 Mannheim
Gerd Gigerenzer: MPI for Human Development, Berlin, Postal: Lentzeallee 94, 14195 Berlin

No 99-49, Sonderforschungsbereich 504 Publications from Sonderforschungsbereich 504, Universität Mannheim, Sonderforschungsbereich 504, University of Mannheim

Abstract: How to derive and predict intransitivities from fast and frugal heuristics, such as Take The Best, Minimalist, and Take The Last? It is specified in analytical terms under which conditions these lexicographic heuristics generate intransitivities. On the basis of the analytical results a simulation study was conducted that investigates how limited discriminability and randomness affect transitivity when the amount of missing information is varied in a naturally structured environment. It has long been known that transitivity and even weak stochastic transitivity is violated in human choice behavior. These results together with the present findings demand an explanation that goes beyond the concept of randomness and discriminability as preferred in classical models of rational choice. It is concluded that fast and frugal heuristics offer such an explanation.

Pages: 20 pages
Date: 1999-03-19
Note: Financial Support from the Deutsche Forschungsgemeinschaft, SFB 504, at the University of Mannheim, is gratefully acknowledged.
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