The affiliation heuristic, continued

posted by
March 12, 2012
EconLog
by Arnold Kling  
Posted in Commentary

"A lot of long-distance trading was famously undertaken by ethnic minorities, where the affiliation heuristic substituted for being able to observe the other party at close range. In fact, the affiliation heuristic is deeply embedded in commerce. You trust the doctor because you see her license on the wall, and you assume she does not want to lose it." (03/11/12)

http://econlog.econlib.org/archives/2012/03/the_affiliation_1.html  

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