Event Description:
Andrei Shleifer explores the idea that judgment by representativeness reflects the workings of episodic memory, especially interference. In a new laboratory experiment on cued recall, participants are shown two groups of images with different distributions of colors. He found that i) decreasing the frequency of a given color in one group significantly increases the recalled frequency of that color in the other group, ii) for a fixed set of images, different cues for the same objective distribution entail different interference patterns and different probabilistic assessments. Selective retrieval and interference may offer a foundation for the representativeness heuristic, but more generally for understanding the formation of probability judgments from experienced statistical associations.
Event Speaker:
Andrei Shleifer, John L. Loeb Professor of Economics at Harvard University
Event Information:
This event is free, however registration is required via the event webpage.
This event is part of the Cognition and Decision Seminar Series at Columbia Business School's Center for Decision Sciences.
