The capacity of short-term memory is a key constraint when people make online judgments requiring them to rely on samples retrieved from memory (e.g., Dougherty & Hunter, 2003). In this article, the authors compare 2 accounts of how people use knowledge of statistical distributions to make point estimates: either by retrieving precomputed…

Several judgment and decision-making tasks are assumed to involve memory functions, but significant knowledge gaps on the memory processes underlying these tasks remain. In a study on 568 adults between 25 and 80 years of age, hypotheses were tested on the specific relationships between individual differences in working memory, episodic memory,…

This article explores the configural weighted average (CWA) hypothesis suggesting that extension biases, like conjunction and disjunction errors, occur because people estimate compound probabilities by taking a CWA of the constituent probabilities. The hypothesis suggests a process consistent with well-known cognitive constraints, which…