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The behavioral relevance of non-binding defaults is well established. While most research has focused on decision makers’ responses to a given default, we argue that this individual decision making perspective is incomplete. Instead, a comprehensive understanding of default effects requires to take account of the strategic interaction between default setters and decision makers. We analyze theo...
We investigated how decision-makers use multiple opportunities to judge a quantity. Decision-makers undervalue the benefit of combining their own judgment with an advisor's, but theories disagree about whether this bias would apply to combining several of one's own judgments. Participants estimated percentage answers to general knowledge questions (e.g., What percent of the world's population u...
The evaluation of the cost and health implications of agreeing to cover a new health technology is best accomplished using a model that mathematically combines inputs from various sources, together with assumptions about how these fit together and what might happen in reality. This need to make assumptions, the complexity of the resulting framework, the technical knowledge required, as well as ...
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