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Previous studies have revealed surprising and persistent cross-cultural variations in overconfidence, whereby respondents in some Asian cultures (e.g., Chinese) exhibit markedly higher degrees of overconfidence than respondents in other cultures (e.g., in the United States and Japan). Most of...
Heinrich's (1931) classical study implies that most industrial accidents can be characterized as a probabilistic result of human error. The present research quantifies Heinrich's observation and compares four descriptive models of decision making in the abstracted setting. The suggested...
Judges evaluated buying and selling prices of hypothetical investments, based on the previous price of each investment and estimates of the investment's future value given by advisors of varied expertise. Effect of a source's estimate varied in proportion to the source's expertise, and it varied...
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