The Natural Selection of Prediction Heuristics: Anchoring and Adjustment versus Representativeness

There are several heuristics which people use in making numerical predictions and these heuristics compete for the determination of prediction output. Some of them (e.g. representativeness) lead to excessively extreme predictions while others (e.g. anchoring and adjustment) lead to regressive (and even over-regressive) predictions. In this paper we study the competition between these two heuristics by varying the representation of predictor and outcome. The results indicate that factors which facilitate reliance on representativeness (e.g. compatibility between predictor and outcome) indeed lead to an increase in extremity, while factors that facilitate reliance on anchoring and adjustment (e.g. increased salience of a potential anchor) lead to a decrease in extremity.     

Lasso回归：从解释到预测

传统的最小二乘回归法关注于对当前数据集的准确估计, 容易导致模型的过拟合, 影响模型结论的可重复性。随着方法学领域的发展, 涌现出的新兴统计工具可以弥补传统方法的局限, 从过度关注回归系数值的解释转向提升研究结果的预测能力也愈加成为心理学领域重要的发展趋势。Lasso方法通过在模型估计中引入惩罚项的方式, 可以获得更高的预测准确度和模型概化能力, 同时也可以有效地处理过拟合和多重共线性问题, 有助于心理学理论的构建和完善。     

Postdecision consolidation in a trend prediction task

To be able to learn from experience it is necessary to correctly apprehend experienced feedback and the situation in which it is provided. The results indicate how post-decision consolidation in complex domains may affect learning. The problem may be particularly pertinent in recurrent decision making where considerable risk is involved. The study explores the changes in aspect (signal) importance from pre- to postdiction as a function of outcome information. By postdiction we mean the remembering of an earlier prediction (cf. Hawkins & Hastie, 1990). Subjects were asked to decide on which of four alternative future price developments would follow a historical price trajectory for different commodities, and to rate the importance of each of the chosen alternative's corresponding aspects. The subjects revealed a bias in their support ratings of aspects--seeing support in aspects that traditionally (by themselves and in many contexts) would be seen as neutral or even counter-indicative of the alternative chosen. After an intermission, the subjects were also given information about what was indicated to be the actual development of the market. One group was told that their decisions were correct (irrespective of what the decisions were), another group that they were incorrect but close, a third group that they were incorrect by far, while a fourth group served as a control. Following this information the subjects were again asked to judge the importance of the aspects for their own prior decision on the most likely future development. The results indicated that outcome feed-back had an effect on post decision restructuring of facts. Subjects in the correct condition showed an average consolidation that increased the support, while the wrong conditions lead to negative consolidation (in retrospect indicating that they never found as much support for their decision in the past as they actually did). Thus, in a choice between consolidating their own initial prediction and the price trajectory they would have to live with, the decision makers consolidated the outcome. Therefore, the results of the study were related to the hindsight bias phenomenon (Fischhoff, 1975) and to Kahneman and Miller's (1986) mutability concept.     

Bridging the gap between brain and behavior: cognitive and neural mechanisms of episodic memory

The notion that non-human animals are capable of episodic memory is highly controversial. Here, we review recent behavioral work from our laboratory showing that the fundamental features of episodic memory can be observed in rats and that, as in humans, this capacity relies on the hippocampus. We also discuss electrophysiological evidence, from our laboratory and that of others, pointing to associative and sequential coding in hippocampal cells as potential neural mechanisms underlying episodic memory.     

The effects of noise and gender on children's episodic and semantic memory

The main objectives in the present study were to examine meaningful irrelevant speech and road traffic noise effects on episodic and semantic memory, and to evaluate whether gender differences in memory performance interact with noise. A total of 96 subjects, aged 13-14 years (n = 16 boys and 16 girls in each of three groups), were randomly assigned to a silent or two noise conditions. Noise effects found were restricted to impairments from meaningful irrelevant speech on recognition and cued recall of a text in episodic memory and of word comprehension in semantic memory. The obtained noise effect suggests that the meaning of the speech were processed semantically by the pupils, which reduced their ability to comprehend a text that also involved processing of meaning. Meaningful irrelevant speech was also assumed to cause a poorer access to the knowledge base in semantic memory. Girls outperformed boys in episodic and semantic memory materials, but these differences did not interact with noise.     

Predicting elections from the most important issue: A test of the take‐the‐best heuristic

We used the take‐the‐best heuristic to develop a model to forecast the popular two‐party vote shares in U.S. presidential elections. The model draws upon information about how voters expect the candidates to deal with the most important issue facing the country. We used cross‐validation to calculate a total of 1000 out‐of‐sample forecasts, one for each of the last 100 days of the ten U.S. presidential elections from 1972 to 2008. Ninety‐seven per cent of forecasts correctly predicted the winner of the popular vote. The model forecasts were competitive compared to forecasts from methods that incorporate substantially more information (e.g., econometric models and the Iowa Electronic Markets). The purpose of the model is to provide fast advice on which issues candidates should stress in their campaign. Copyright © 2010 John Wiley & Sons, Ltd.     

Hindsight Bias Demonstrated in the Prediction of a Sporting Event

Abstract

The authors examined hindsight bias in the context of a sporting event (Super Bowl XXXIII) with individuals who had previous knowledge of the hindsight bias–42 students who were currently enrolled in psychology classes that had previously covered hindsight bias. To control for extraneous variables, the authors analyzed how often the participants watched football, their gender, and whom they predicted to win; they found no differences between how often the participants watched football and whom they predicted to win. The hindsight bias existed for the prediction of the outcome for the Super Bowl, and the participants with previous knowledge were not immune to its effect. Results are discussed in relation to attribution theory, the reconstructionist view, and response bias view.