Better than average? When can we say that subsampling of items is better than statistical summary representations?

Myczek and Simons (2008) have described a computational model that subsamples a few items from a set with high accuracy, showing that this approach can do as well as, or better than, a model that captures statistical representations of the set. Although this is an intriguing existence proof, some caution should be taken before we consider their approach as a model for human behavior. In particular, I propose that such simulation-based research should be based on a more expanded range of phenomena and that it should include more accurate representations of errors in judgments.

Duke Scholars

Author Dan Ariely Fuqua School of Business