32 Pages Posted: 23 Nov 2002
Date Written: October 2002
New work on heuristics and biases has explored the role of emotions and affect; the idea of "dual processing"; the place of heuristics and biases outside of the laboratory; and the implications of heuristics and biases for policy and law. This review-essay focuses on certain aspects of "Heuristics and Biases: The Psychology of Intuitive Judgment", edited by Thomas Gilovich, Dale Griffin, and Daniel Kahneman. An understanding of heuristics and biases casts light on many issues in law, involving jury awards, risk regulation, and political economy in general. Some attention is given to the possibility of "moral heuristics" - rules of thumb, for purposes of morality, that generally work well but that also systematically misfire.
Keywords: emotions and affect; bias; "Heuristics and Biases: The Psychology of Intuitive Judgment," by Thomas Gilovich, Dale Griffin, Daniel Kahneman; jury awards; risk regulation
Suggested Citation: Suggested Citation
Sunstein, Cass R., Hazardous Heuristics (October 2002). U Chicago Law & Economics, Olin Working Paper No. 165; and U Chicago Public Law Research Paper No. 33. Available at SSRN: https://ssrn.com/abstract=344620 or http://dx.doi.org/10.2139/ssrn.344620