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Memory and Representativeness / Pedro Bordalo, Katherine Coffman, Nicola Gennaioli, Frederik Schwerter, Andrei Shleifer.
- Format:
- Book
- Author/Creator:
- Bordalo, Pedro.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w25692.
- NBER working paper series no. w25692
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2019.
- Summary:
- We explore 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. We find 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.
- Notes:
- Print version record
- March 2019.
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