Toward a more nuanced understanding of probability estimation biases.

ABSTRACT: In real life, we often have to make judgements under uncertainty. One such judgement task is estimating the probability of a given event based on uncertain evidence for the event, such as estimating the chances of actual fire when the fire alarm goes off. On the one hand, previous studies have shown that human subjects often significantly misestimate the probability in such cases. On the other hand, these studies have offered divergent explanations as to the exact causes of these judgment errors (or, synonymously, biases). For instance, different studies have attributed the errors to the neglect (or underweighting) of the prevalence (or base rate) of the given event, or the overweighting of the evidence for the individual event ('individuating information'), etc. However, whether or to wha

SUBMITTER: Branch F 

PROVIDER: S-EPMC10101207 | biostudies-literature | 2023

REPOSITORIES: biostudies-literature