Irrational decisions : attending to numbers rather than ratios

@inproceedings{Alonso2003IrrationalD,
  title={Irrational decisions : attending to numbers rather than ratios},
  author={Diego Alonso and Pablo Fern{\'a}ndez-Berrocal},
  year={2003}
}
When judging the probability of a low probability event, many people judge it as less likely when it is expressed as a ratio of small numbers (e.g. 1:10) than of large numbers (e.g. 10:100). This is known as the ratio-bias (RB) phenomenon. Besides confirming the phenomenon, in this experiment participants made irrational decisions selecting probabilities of 10% in preference to 20 and 30%, in spite of the great discrepancy of probabilities between options (greater than in previous studies… CONTINUE READING

From This Paper

Figures, tables, and topics from this paper.

Citations

Publications citing this paper.
Showing 1-5 of 5 extracted citations

References

Publications referenced by this paper.
Showing 1-10 of 20 references

The generality of the ratio - bias phenomenon

  • V. Denes-Raj, S. Epstein, J. Cole
  • Personality and Social Psychology Bulletin
  • 1995
Highly Influential
6 Excerpts

An integration of the cognitive and psychodynamic unconscious

  • S. Epstein
  • American Psychologist
  • 1994
Highly Influential
5 Excerpts

The need for cognition

  • J. T. Cacioppo, R. E. Petty
  • Journal of Personality and Social Psychology,
  • 1982
Highly Influential
3 Excerpts

Factores que incrementan el uso del razonamiento racional

  • P. Fernández-Berrocal, S. Segura, N. Ramos
  • 1998
1 Excerpt

Imagination, Cognition, and Personality

  • S. Epstein, R. Pacini, V. Denes-Raj, H. Heier
  • Journal of Personality and Social Psychology,
  • 1996