||This article may be too technical for most readers to understand. (June 2012)|
Forms of extension neglect include:
- base rate neglect
- insensitivity to sample size
- scope neglect
- duration neglect
- the peak-end rule
- the conjunction fallacy
- the less-is-better effect
The extension effect is "neither universal nor absolute". If attention is drawn to set size in an easily interpretable way, an additive extension effect is reported, according to which the valuation of a set is a function of the valuation of a prototypical member of the set added to set size, rather than multiplied.
- The concept of extensionality is used throughout Kahneman and Tversky's research as synonymous of extent (range, size) of the set. It should not be confused with Arrow's concept of extensionality, which in Kahneman and Tversky's work is called invariance.
- Kahneman, Daniel; Ritov, Ilana; Schkade, David (1999). "Economic Preferences or Attitude Expressions? An Analysis of Dollar Responses to Public Issues". Journal of Risk and Uncertainty 19 (1/3): 203–235. doi:10.1023/A:1007835629236.