WellerJoshuaPsychSciGreaterDecisionMaking.pdf

Citeable URL: https://ir.library.oregonstate.edu/concern/articles/cv43nz506

Descriptions

Attribute Name	Values
Creator	Parker, Andrew M. Weller, Joshua A.
Abstract	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. Keywords: individual differences, competence, risky choice, expected value sensitivity, decision making
Urheberrechts-Erklärung	In Copyright