Behavior-analytic approaches to decision making
Behavior analysis has much to offer the study of phenomena in the area of judgement and decision making. We review several research areas that should continue to profit from a behavior-analytic approach, including the relative merit of contingency-based and rule-governed instruction of solving algebra and analogy problems, and the role of conditioned reinforcement and the inter-trial interval in a type of Prisoner's Dilemma Game. We focus on two additional areas: (1) the study of base-rate neglect, a notorious reasoning fallacy and (2) the study of the sunk-cost effect, which characterizes M-conceived investment decisions. In each of these two cases we review studies with humans and pigeons as subjects. (C) 2004 Elsevier B.V. All rights reserved.