Graphical Techniques in Debiasing: An Exploratory Study
27 Pages Posted: 31 Oct 2008
Date Written: October 1990
Abstract
Base rate and conjunction fallacies are consistent biases that influence decision makinginvolving probability judgments. We develop simple graphical techniques and test theirefficacy in correcting for these biases. Preliminary results suggest that graphical techniqueshelp to overcome these biases and improve decision making. We examine the implications ofincorporating these simple techniques in Executive Information Systems.
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