Demonstrates how decision makers balance effort and accuracy considerations and predict the particular choice of strategy.
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'The Adaptive Decision Maker provides a compelling overview of the empirical results and conceptual framework that the authors have been pursuing in their research program over the last 15 years. The effort-accuracy framework represents an attempt to shift the research agenda from demonstrations of 'irrationality' in the form of heuristics and biases to an understanding of the causal mechanisms underlying the behaviour ... a significant work for the field of behavioural decision making as a whole.' John Carroll
Arguing that people use a variety of strategies when making choices, this study demonstrates how decision makers balance effort and accuracy considerations and predict the particular choice of strategy.
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