Action as a fast and frugal heuristic

Research output: Contribution to journalArticle

14 Citations (Scopus)

Abstract

Decision making is usually viewed as involving a period of thought, while the decision maker assesses options, their likely consequences, and his or her preferences, and selects the preferred option. The process ends in a terminating action. In this view errors of thought will inevitably show up as errors of action; costs of thinking are to be balanced against costs of decision errors. Fast and frugal heuristics research has shown that, in some environments, modest thought can lead to excellent action. In this paper we extend this work to situations in which action is taken after little or no thought. We show that these `highly active' or `decision cycles' processes can lead to excellent results at the cost of almost no thought. The paper examines the settings in which this effectiveness is possible, and lists a number of environmental features that are required for decision cycles to work well. Several research directions for analytical, laboratory, and field-based research are identified.

Original languageEnglish (US)
Pages (from-to)479-496
Number of pages18
JournalMinds and Machines
Volume9
Issue number4
DOIs
StatePublished - 1999

Fingerprint

Costs
Decision making
Thought
Heuristics
Decision Making

ASJC Scopus subject areas

  • Artificial Intelligence

Cite this

Action as a fast and frugal heuristic. / Connolly, Terence.

In: Minds and Machines, Vol. 9, No. 4, 1999, p. 479-496.

Research output: Contribution to journalArticle

@article{30e3b0cdced24427b8c2651025cc2db9,
title = "Action as a fast and frugal heuristic",
abstract = "Decision making is usually viewed as involving a period of thought, while the decision maker assesses options, their likely consequences, and his or her preferences, and selects the preferred option. The process ends in a terminating action. In this view errors of thought will inevitably show up as errors of action; costs of thinking are to be balanced against costs of decision errors. Fast and frugal heuristics research has shown that, in some environments, modest thought can lead to excellent action. In this paper we extend this work to situations in which action is taken after little or no thought. We show that these `highly active' or `decision cycles' processes can lead to excellent results at the cost of almost no thought. The paper examines the settings in which this effectiveness is possible, and lists a number of environmental features that are required for decision cycles to work well. Several research directions for analytical, laboratory, and field-based research are identified.",
author = "Terence Connolly",
year = "1999",
doi = "10.1023/A:1008396500743",
language = "English (US)",
volume = "9",
pages = "479--496",
journal = "Minds and Machines",
issn = "0924-6495",
publisher = "Springer Netherlands",
number = "4",

}

TY - JOUR

T1 - Action as a fast and frugal heuristic

AU - Connolly, Terence

PY - 1999

Y1 - 1999

N2 - Decision making is usually viewed as involving a period of thought, while the decision maker assesses options, their likely consequences, and his or her preferences, and selects the preferred option. The process ends in a terminating action. In this view errors of thought will inevitably show up as errors of action; costs of thinking are to be balanced against costs of decision errors. Fast and frugal heuristics research has shown that, in some environments, modest thought can lead to excellent action. In this paper we extend this work to situations in which action is taken after little or no thought. We show that these `highly active' or `decision cycles' processes can lead to excellent results at the cost of almost no thought. The paper examines the settings in which this effectiveness is possible, and lists a number of environmental features that are required for decision cycles to work well. Several research directions for analytical, laboratory, and field-based research are identified.

AB - Decision making is usually viewed as involving a period of thought, while the decision maker assesses options, their likely consequences, and his or her preferences, and selects the preferred option. The process ends in a terminating action. In this view errors of thought will inevitably show up as errors of action; costs of thinking are to be balanced against costs of decision errors. Fast and frugal heuristics research has shown that, in some environments, modest thought can lead to excellent action. In this paper we extend this work to situations in which action is taken after little or no thought. We show that these `highly active' or `decision cycles' processes can lead to excellent results at the cost of almost no thought. The paper examines the settings in which this effectiveness is possible, and lists a number of environmental features that are required for decision cycles to work well. Several research directions for analytical, laboratory, and field-based research are identified.

UR - http://www.scopus.com/inward/record.url?scp=0033319575&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=0033319575&partnerID=8YFLogxK

U2 - 10.1023/A:1008396500743

DO - 10.1023/A:1008396500743

M3 - Article

AN - SCOPUS:0033319575

VL - 9

SP - 479

EP - 496

JO - Minds and Machines

JF - Minds and Machines

SN - 0924-6495

IS - 4

ER -