Behavioral Decision Research Is Not a Linda Problem: Comment on Regenwetter et al. (2022)

Research output: Contribution to journalArticlepeer-review

2 Scopus citations

Abstract

Regenwetter et al. (2022) argue that research on decision-making is plagued with conjunction fallacies or “Linda Effects.” As a case study, they provide a critical analysis of Kahneman and Tversky’s seminal article on Prospect Theory and its 1992 sequel. This commentary evaluates their criticisms and ultimately finds them to be predicated on a number of misconceptions. As argued below, a reliance on stylized effects at the aggregate level is perfectly legitimate when dismissing a received view and first proposing a new account that organizes said effects in theoretically-meaningful ways.

Original languageEnglish (US)
Pages (from-to)112-117
Number of pages6
JournalDecision
Volume9
Issue number2
DOIs
StatePublished - 2022

Keywords

  • Aggregation fallacies
  • Choice behavior
  • Prospect theory

ASJC Scopus subject areas

  • Social Psychology
  • Neuropsychology and Physiological Psychology
  • Applied Psychology
  • Statistics, Probability and Uncertainty

Fingerprint

Dive into the research topics of 'Behavioral Decision Research Is Not a Linda Problem: Comment on Regenwetter et al. (2022)'. Together they form a unique fingerprint.

Cite this