Services on Demand
Article
Escritos Contables y de Administración
On-line version ISSN 1853-2055
Abstract
MANZANAL, Melisa N.; EL ALABI, Emilio; MILANESI, Gastón S. and VIGIER, Hernán P.. La heurística de representatividad en un caso de decisión de inversión. Escr. Contab. Adm. [online]. 2013, vol.4, n.2, pp. 91-109. ISSN 1853-2055.
The objective of this paper is to evaluate the effect of representativeness heuristic in the probability perception conditioning an event in decision-making under risk. In order to do this, we adapt an experiment presented by Grether (1980) and we test the representativeness heuristic in business investment using the net present value criterion. We conclude that Bayesian reasoning, which produces optimal outcomes, is not present in the real manner in which individuals make decisions. Therefore, we demonstrate the importance of studying behavioral economics and, in particular, representativeness heuristic in the decision-making process.
Keywords : Heuristics; Representativeness; Decision-Making.