Open Access. Powered by Scholars. Published by Universities.®

Social and Behavioral Sciences Commons

Open Access. Powered by Scholars. Published by Universities.®

2012

Dartmouth College

Chimpanzees

Articles 1 - 1 of 1

Full-Text Articles in Social and Behavioral Sciences

When Less Is More: Evolutionary Origins Of The Affect Heuristic, Jerald D. Kralik, Eric R. Xu, Emily J. Knight, Sara A. Khan, William J. Levine Oct 2012

When Less Is More: Evolutionary Origins Of The Affect Heuristic, Jerald D. Kralik, Eric R. Xu, Emily J. Knight, Sara A. Khan, William J. Levine

Open Dartmouth: Faculty Open Access Scholarship

The human mind is built for approximations. When considering the value of a large aggregate of different items, for example, we typically do not summate the many individual values. Instead, we appear to form an immediate impression of the likeability of the option based on the average quality of the full collection, which is easier to evaluate and remember. While useful in many situations, this affect heuristic can lead to apparently irrational decision-making. For example, studies have shown that people are willing to pay more for a small set of high-quality goods than for the same set of high-quality goods ...