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Statistical literacy for classification under risk: an educational perspective

  • After a brief description of the four components of risk literacy and the tools for analyzing risky situations, decision strategies are introduced, These rules, which satisfy tenets of Bounded Rationality, are called fast and frugal trees. Fast and frugal trees serve as efficient heuristics for decision under risk. We describe the construction of fast and frugal trees and compare their robustness for prediction under risk with that of Bayesian networks. In particular, we analyze situations of risky decisions in the medical domain. We show that the performance of fast and frugal trees does not fall too far behind that of the more complex Bayesian networks.

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Author:Laura Martignon, Kathyn Laskey
Publisher:Springer Link
Document Type:Working Paper
Publishing Institution:Pädagogische Hochschule Ludwigsburg
Release Date:2022/03/03
Year of Completion:2019
Tag:Statistical Literacy, risk literacy, Components, Uncertainty, Decision trees
GND Keyword:Risikoverhalten; Statistisches Wissen
Issue:AStA Wirtschafts- und Sozialstatistisches Archiv 13 (2019)
First Page:269
Last Page:278
Volltext ist unter angegebener DOI abrufbar.
Faculties:Fakultät für Kultur- und Naturwissenschaften
DDC class:500 Naturwissenschaften und Mathematik / 510 Mathematik
Open Access:Ja
Licence (German):License LogoCreative Commons - CC BY - Namensnennung 4.0 International