Deciding analytically or trusting your intuition? The advantadges and disadvantadges of analytic and intuitive thought

Welcome to the UPF Digital Repository

T. Betsch & S. Haberstroh (eds.), pp. 67-82, Mahwah, NJ: Erlbaum, 2005 (abridged version)
http://hdl.handle.net/10230/821
To cite or link this document: http://hdl.handle.net/10230/821
dc.contributor.author Hogarth, Robin
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.issued 2002-10-01
dc.identifier.citation T. Betsch & S. Haberstroh (eds.), pp. 67-82, Mahwah, NJ: Erlbaum, 2005 (abridged version)
dc.identifier.uri http://hdl.handle.net/10230/821
dc.description.abstract Recent research has highlighted the notion that people can make judgments and choices by means of two systems that are labeled here tacit (or intuitive) and deliberate (or analytic). Whereas most decisions typically involve both systems, this chapter examines the conditions under which each system is liable to be more effective. This aims to illuminate the age-old issue of whether and when people should trust “intuition” or “analysis.” To do this, a framework is presented to understand how the tacit and deliberate systems work in tandem. Distinctions are also made between the types of information typically used by both systems as well as the characteristics of environments that facilitate or hinder accurate learning by the tacit system. Next, several experiments that have contrasted “intuitive” and “analytic” modes on the same tasks are reviewed. Together, the theoretical framework and experimental evidence leads to specifying the trade-off that characterizes their relative effectiveness. Tacit system responses can be subject to biases. In making deliberate system responses, however, people might not be aware of the “correct rule” to deal with the task they are facing and/or make errors in executing it. Whether tacit or deliberate responses are more valid in particular circumstances requires assessing this trade-off. In this, the probability of making errors in deliberate thought is postulated to be a function of the analytical complexity of the task as perceived by the person. Thus the trade-off is one of bias (in implicit responses) versus analytical complexity (when tasks are handled in deliberate mode). Finally, it is noted that whereas much attention has been paid in the past to helping people make decisions in deliberate mode, efforts should also be directed toward improving ability to make decisions in tacit mode since the effectiveness of decisions clearly depends on both. This therefore represents an important frontier for research.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 654
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title Deciding analytically or trusting your intuition? The advantadges and disadvantadges of analytic and intuitive thought
dc.title.alternative The routines of decision making
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2014-06-03T07:14:08Z
dc.subject.keyword Behavioral and Experimental Economics
dc.subject.keyword decision making
dc.subject.keyword intutition
dc.subject.keyword analysis
dc.subject.keyword confidence
dc.subject.keyword learning
dc.subject.keyword tacit processes
dc.subject.keyword leex
dc.rights.accessRights info:eu-repo/semantics/openAccess


See full text
This document is licensed under a Creative Commons license:

Search


Advanced Search

Browse

My Account

Statistics