The anchoring bias reflects rational use of cognitive resources.

Abstract

Cognitive biases, such as the anchoring bias, pose a serious challenge to rational accounts of human cognition. We investigate whether rational theories can meet this challenge by taking into account the mind's bounded cognitive resources. We asked what reasoning under uncertainty would look like if people made rational use of their finite time and limited… (More)
DOI: 10.3758/s13423-017-1286-8

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