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  1. Risk, Uncertainty and Profit.Frank H. Knight - 1921 - University of Chicago Press.
    Role of the entrepreneur in a distinct role of profit.
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  • Judgment under Uncertainty: Heuristics and Biases.Amos Tversky & Daniel Kahneman - 1974 - Science 185 (4157):1124-1131.
    This article described three heuristics that are employed in making judgements under uncertainty: representativeness, which is usually employed when people are asked to judge the probability that an object or event A belongs to class or process B; availability of instances or scenarios, which is often employed when people are asked to assess the frequency of a class or the plausibility of a particular development; and adjustment from an anchor, which is usually employed in numerical prediction when a relevant value (...)
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  • Imprecise Uncertain Reasoning: A Distributional Approach.Gernot D. Kleiter - 2018 - Frontiers in Psychology 9.
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  • Comprehension and computation in Bayesian problem solving.Eric D. Johnson & Elisabet Tubau - 2015 - Frontiers in Psychology 6:137658.
    Humans have long been characterized as poor probabilistic reasoners when presented with explicit numerical information. Bayesian word problems provide a well-known example of this, where even highly educated and cognitively skilled individuals fail to adhere to mathematical norms. It is widely agreed that natural frequencies can facilitate Bayesian reasoning relative to normalized formats (e.g. probabilities, percentages), both by clarifying logical set-subset relations and by simplifying numerical calculations. Nevertheless, between-study performance on “transparent” Bayesian problems varies widely, and generally remains rather unimpressive. (...)
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  • How to improve Bayesian reasoning without instruction: Frequency formats.Gerd Gigerenzer & Ulrich Hoffrage - 1995 - Psychological Review 102 (4):684-704.
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  • Rational Irrationality: Modeling Climate Change Belief Polarization Using Bayesian Networks.John Cook & Stephan Lewandowsky - 2016 - Topics in Cognitive Science 8 (1):160-179.
    Belief polarization is said to occur when two people respond to the same evidence by updating their beliefs in opposite directions. This response is considered to be “irrational” because it involves contrary updating, a form of belief updating that appears to violate normatively optimal responding, as for example dictated by Bayes' theorem. In light of much evidence that people are capable of normatively optimal behavior, belief polarization presents a puzzling exception. We show that Bayesian networks, or Bayes nets, can simulate (...)
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  • The base-rate fallacy in probability judgments.Maya Bar-Hillel - 1980 - Acta Psychologica 44 (3):211-233.
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