Greater decision-making competence is associated with greater expected-value sensitivity, but not overall risk taking: an examination of concurrent validity Public Deposited

http://ir.library.oregonstate.edu/concern/articles/4t64gq04t

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  • Decision-making competence reflects individual differences in the susceptibility to committing decision-making errors, measured using tasks common from behavioral decision research (e.g., framing effects, under/overconfidence, following decision rules). Prior research demonstrates that those with higher decision-making competence report lower incidence of health-risking and antisocial behaviors, but there has been less focus on intermediate processes that may impact real-world decisions, and, in particular, those implicated by normative models. Here we test the associations between measures of youth decision-making competence (Y-DMC) and one such process, the degree to which individuals make choices consistent with maximizing expected value (EV). Using a task involving hypothetical gambles, we find that greater EV sensitivity is associated with greater Y-DMC. Higher Y-DMC scores are associated with (a) choosing risky options when EV favors those options and (b) avoiding risky options when EV favors a certain option. This relationship is stronger for gambles that involved potential losses. The results suggest that Y-DMC captures decision processes consistent with standard normative evaluations of risky decisions.
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  • Parker, A. M., & Weller, J. A. (2015). Greater decision-making competence is associated with greater expected-value sensitivity, but not overall risk taking: An examination of concurrent validity. Frontiers in Psychology, 6, 717. doi:10.3389/fpsyg.2015.00717
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  • description.provenance : Submitted by Patricia Black (patricia.black@oregonstate.edu) on 2015-08-24T21:48:36Z No. of bitstreams: 3 license_rdf: 1370 bytes, checksum: cd1af5ab51bcc7a5280cf305303530e9 (MD5) WellerJoshuaPsychSciGreaterDecisionMaking.pdf: 431860 bytes, checksum: a0078eed7715505d5ae5ba5c358946ca (MD5) WellerJoshuaPsychSciGreaterDecisionMakingSupplementaryMaterial.pdf: 27506 bytes, checksum: 54e4fe42dd37606f8654e28c18a7a75f (MD5)
  • description.provenance : Made available in DSpace on 2015-08-24T21:49:35Z (GMT). No. of bitstreams: 3 license_rdf: 1370 bytes, checksum: cd1af5ab51bcc7a5280cf305303530e9 (MD5) WellerJoshuaPsychSciGreaterDecisionMaking.pdf: 431860 bytes, checksum: a0078eed7715505d5ae5ba5c358946ca (MD5) WellerJoshuaPsychSciGreaterDecisionMakingSupplementaryMaterial.pdf: 27506 bytes, checksum: 54e4fe42dd37606f8654e28c18a7a75f (MD5) Previous issue date: 2015-05-28
  • description.provenance : Approved for entry into archive by Patricia Black(patricia.black@oregonstate.edu) on 2015-08-24T21:49:35Z (GMT) No. of bitstreams: 3 license_rdf: 1370 bytes, checksum: cd1af5ab51bcc7a5280cf305303530e9 (MD5) WellerJoshuaPsychSciGreaterDecisionMaking.pdf: 431860 bytes, checksum: a0078eed7715505d5ae5ba5c358946ca (MD5) WellerJoshuaPsychSciGreaterDecisionMakingSupplementaryMaterial.pdf: 27506 bytes, checksum: 54e4fe42dd37606f8654e28c18a7a75f (MD5)

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