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The process-performance paradox in expert judgment - How can experts know so much and predict so badly?

Year: 1991

Type: book-chapter

Abstract: A mysterious fatal disease strikes a large minority of the population. \nThe disease is incurable, but an expensive drug can keep victims alive. Congress decides that the drug should be given to those whose lives can be \nextended longest, which only a few specialists can predict. The experts work \naround the clock searching for a cure; allocating the drug is a new chore they \nwould rather avoid.

Source: CaltechAUTHORS (California Institute of Technology)

Authors: Camerer, Colin F., Johnson, Eric J.

Institution: University of Pennsylvania

Language: English

Topic: Decision-Making and Behavioral Economics

Subfield: General Decision Sciences

Field: Decision Sciences

Domain: Social Sciences

Open Access status: green

Funders: National Science Foundation, Office of Naval Research

OpenAlex ID: W50237241

FWCI: 15.42

Cites:

Cited by: 340

Related to: 10