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Less-is-better Effect
The less-is-better effect is a cognitive bias that causes people to favor a lesser option when it is presented separately, but to prefer the better option when both are presented together. The term was first proposed by Christopher Hsee. Identifying the effect In a 1998 study, Hsee, a professor at the Graduate School of Business of The University of Chicago, discovered a less-is-better effect in three contexts: Hsee noted that the less-is-better effect was observed "only when the options were evaluated separately, and reversed itself when the options were juxtaposed.” Hsee explained these seemingly counterintuitive results “in terms of the evaluability hypothesis, which states that separate evaluations of objects are often influenced by attributes that are easy to evaluate rather than by those that are important." Other studies The less-is-better effect was demonstrated in several studies that preceded Hsee's 1998 experiment. In 1992, a team led by Michael H. Birnbaum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Occam's Razor
In philosophy, Occam's razor (also spelled Ockham's razor or Ocham's razor; ) is the problem-solving principle that recommends searching for explanations constructed with the smallest possible set of elements. It is also known as the principle of parsimony or the law of parsimony (). Attributed to William of Ockham, a 14th-century English philosopher and theologian, it is frequently cited as , which translates as "Entities must not be multiplied beyond necessity", although Occam never used these exact words. Popularly, the principle is sometimes paraphrased as "of two competing theories, the simpler explanation of an entity is to be preferred." This philosophical razor advocates that when presented with competing hypotheses about the same prediction and both hypotheses have equal explanatory power, one should prefer the hypothesis that requires the fewest assumptions, and that this is not meant to be a way of choosing between hypotheses that make different predictions. Similarl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |