Thinking through categories

  • Mullainathan S
  • 45

    Readers

    Mendeley users who have this article in their library.
  • N/A

    Citations

    Citations of this article.

Abstract

I present a model in which people use categories to think about the world around them. Faced with data they first pick a category which best matches it. To make predictions they ask how representative an outcome would be of the chosen category. This simple model unites many of the experimentally documented biases the law of small num bers, the hot hand, representativeness and the conjunction fallacy. Moreover, the model provides enough structure that it provides readily testable out of sample predictions regarding these biases.

Get free article suggestions today

Mendeley saves you time finding and organizing research

Sign up here
Already have an account ?Sign in

Find this document

Authors

  • Sendhil Mullainathan

Cite this document

Choose a citation style from the tabs below

Save time finding and organizing research with Mendeley

Sign up for free