scholarly journals THE ROLE OF NUMERACY AND IMPULSIVITY IN INTERTEMPORAL CHOICE AND DECISION MAKING

2020 ◽  
Vol 13 (1) ◽  
pp. 254-272 ◽  
Author(s):  
Jiuqing Cheng
Keyword(s):  
Decision Making ◽  
Intertemporal Choice ◽  
Choice Preference ◽  
Psychological Mechanisms ◽  
Growing Body ◽  
Intertemporal Choices

A growing body of research has indicated a relationship between numeracy and decision making and that lower numerate people display more disadvantageous decisions. In the domain of intertemporal choice, researchers have long been using impulsivity to address choice preference. To further illuminate the psychological mechanisms of making intertemporal choices, the present study examined the role of impulsivity and numeracy in intertemporal choice, in the presence of each other. The study adopted both subjective and numeracy scales. These scales correlated with each other and with intertemporal choice preference. Moreover, it was found that after controlling for impulsivity, the object numeracy was significantly associated with choice preference, with higher numerate participants showing a stronger preference toward the later larger gains over the sooner smaller gains. Thus, the study indicated that intertemporal choice preference could be attributed to both impulsivity and numeracy.

scholarly journals “Carpe Diem?”: Disjunction Effect of Incidental Affect on Intertemporal Choice

2021 ◽  
Vol 12 ◽  
Author(s):  
Lei Zhou ◽  
Tong Zou ◽  
Lei Zhang ◽  
Jiao-Min Lin ◽  
Yang-Yang Zhang ◽  
...  
Keyword(s):  
Decision Making ◽  
Time Perception ◽  
Intertemporal Choice ◽  
Choice Preference ◽  
Video Clips ◽  
Disjunction Effect ◽  
New Perspective ◽  
Underlying Mechanisms ◽  
Carpe Diem

Incidental affect has an important impact on intertemporal choice (IC). This research aimed to test how positive incidental affect influences IC and its underlying mechanisms. We assumed that positive incidental affect may have a disjunction effect on IC that includes or excludes immediate time. Moreover, we examined the role of time perception for the effect of affect on IC. In Study 1, after undergoing affect priming by video clips, participants completed the IC task using a multiple staircase paradigm. Using Hierarchical Bayesian Modeling, we estimated the discount rate parameter by distinguishing “immediate” and “non-immediate” conditions of IC. The participants’ time perception was also measured. In Study 2, apart from the choice preference of IC, we additionally investigated the differences in the participants’ attention to delay and reward attributes before decision making. The results of the two studies indicated that positive incidental affect leads to longer time perception (Study 1) and prior and more attention to the delay attribute of IC (Study 2), which leads individuals to prefer immediate options in the IC (Studies 1 and 2). Moreover, there is a disjunction effect of affect; in other words, the incidental affect did not influence IC excluding immediate time (Studies 1 and 2). This study improves our understanding of the disjunctive effect and its mechanism of inducing a positive incidental affect on IC and thus provides a new perspective on how related decision making can be improved.

scholarly journals Poverty and Economic Decision-Making: Evidence from Changes in Financial Resources at Payday

2016 ◽  
Vol 106 (2) ◽  
pp. 260-284 ◽  
Author(s):  
Leandro S. Carvalho ◽  
Stephan Meier ◽  
Stephanie W. Wang
Keyword(s):  
Decision Making ◽  
Cognitive Function ◽  
Low Income ◽  
Online Survey ◽  
Intertemporal Choice ◽  
Financial Resources ◽  
Economic Decision Making ◽  
Choice Tasks ◽  
Intertemporal Choices

We study the effect of financial resources on decision-making. Low-income US households are randomly assigned to receive an online survey before or after payday. The survey collects measures of cognitive function and administers risk and intertemporal choice tasks. The study design generates variation in cash, checking and savings balances, and expenditures. Before-payday participants behave as if they are more present-biased when making intertemporal choices about monetary rewards but not when making intertemporal choices about nonmonetary real-effort tasks. Nor do we find before-after differences in risk-taking, the quality of decision-making, the performance in cognitive function tasks, or in heuristic judgments. (JEL C83, D14, D81, D91, I32)

scholarly journals Intertemporal choice reflects value comparison rather than self-control: insights from confidence judgments

2021 ◽  
Author(s):  
Adam Bulley ◽  
Karolina Maria Lempert ◽  
Colin Conwell ◽  
Muireann Irish
Keyword(s):  
Decision Making ◽  
Intertemporal Choice ◽  
The Self ◽  
Self Control ◽  
Confidence Judgments ◽  
Adult Participants ◽  
Subjective Value ◽  
The Right ◽  
Intertemporal Decisions ◽  
Intertemporal Choices

Intertemporal decision-making has long been assumed to measure self-control, with prominent theories treating choices of smaller, sooner rewards as failed attempts to override immediate temptation. If this view is correct, people should be more confident in their intertemporal decisions when they “successfully” delay gratification than when they do not. In two pre- registered experiments with built-in replication, adult participants (n=117) made monetary intertemporal choices and rated their confidence in having made the right decisions. Contrary to assumptions of the self-control account, confidence was not higher when participants chose delayed rewards. Rather, participants were more confident in their decisions when possible rewards were further apart in time-discounted subjective value, closer to the present, and larger in magnitude. Demonstrating metacognitive insight, participants were more confident in decisions that better aligned with their independent valuation of possible rewards. Decisions made with less confidence were more prone to changes-of-mind and more susceptible to a patience-enhancing manipulation. Together, our results establish that confidence in intertemporal choice tracks uncertainty in estimating and comparing the value of possible rewards – just as it does in decisions unrelated to self-control. Our findings challenge self- control views and instead cast intertemporal choice as a form of value-based decision-making about future possibilities.

Science as a Political Battlefield

2020 ◽  
pp. 29-53
Author(s):  
Heini I. Skorini
Keyword(s):  
Decision Making ◽  
Factual Knowledge ◽  
Digital Revolution ◽  
Psychological Mechanisms ◽  
Digital Era ◽  
Political Partisanship ◽  
Public Ignorance ◽  
Group Thinking ◽  
Political Decision Making

This chapter will examine the role of science and factual knowledge in public policymaking in the digital era. The chapter will address why certain scientific issues trigger political controversy and cultural polarization and what psychological mechanisms fuel political tribalism, ideological group thinking, and the rejection of facts and science in collective political decision-making. Furthermore, the digital revolution and its capability of fueling disinformation and false narratives will also be analyzed. According to the main argument, the rejection of science on particular issues is not due to public ignorance, the lack of education, or scientific illiteracy. The emergence of “post-truth politics” and the erosion of science in collective decision-making is largely caused by rising political partisanship, cultural group thinking, motivated reasoning, and identity-protective cognition.

scholarly journals The role of expectations and patients' decision making process

2013 ◽  
Vol 2 (1) ◽  
Author(s):  
C. Bergonzini ◽  
R. Ippoliti
Keyword(s):  
Decision Making ◽  
Clinical Outcome ◽  
Emotional State ◽  
Value Added ◽  
Decision Making Process ◽  
Medical Treatments ◽  
Psychological Mechanisms ◽  
Experimental Drugs ◽  
The Difference

Aim: This work aims at highlighting the role of patient's expectations in regard to experimental drugs and/or medical treatments, analyzing which factors might affect the final clinical outcome (i.e. expected effectiveness). Results: Current studies suggest that psychological and neurobiological mechanisms intersect in inducing the placebo effect, which might be considered as a positive plus value added to the final collected outcome. Moreover, considering psychological mechanisms, we can identify both the expectations and the classical conditioning, Conclusion: A successful relationship between patients and caregivers, which is based on empathy (i.e. the ability to perceive the emotional state of the person we are in contact) can make the difference in the final outcome, increasing the expected effectiveness of the medical treatment.

scholarly journals Decision making does not benefit from using a foreign language: Evidence from cognitive reflection effects on intertemporal choice.

2020 ◽  
Author(s):  
Michal Bialek ◽  
Artur Domurat ◽  
Mariola Paruzel-Czachura ◽  
Rafal Muda
Keyword(s):  
Decision Making ◽  
Foreign Language ◽  
Decision Maker ◽  
Intertemporal Choice ◽  
Reference Points ◽  
Discount Rates ◽  
Negative Effects ◽  
Cognitive Reflection ◽  
Intertemporal Choices

Intertemporal choice requires to decide between smaller sooner and larger later payoffs, and is captured by discount rates. Across two preregistered experiments we found no evidence that using a foreign language benefitted intertemporal choices. On the contrary, there was some evidence of stronger discounting when a foreign language was used. Our results confirm that more reflective individuals tend to discount less strongly, and their intertemporal choices are also more consistent across different reference points and perspectives. In turn, this allows for greater consistency in long-term planning, benefitting a decision maker. Thinking in a foreign language did not affect such consistency, and may actually have negative effects for reflective people. Finally, although our findings hint that the benefits of cognitive reflection may be reduced when using a foreign language. This raises the questions as to why and how using a foreign language helps only some individuals, and in some decisions.

scholarly journals News veracity detection among older adults during the COVID-19 pandemic: The role of analytical reasoning, mood, news consumption, and news content

2020 ◽  
Author(s):  
Didem Pehlivanoglu ◽  
Tian Lin ◽  
Kevin Chi ◽  
Eliany Perez ◽  
Rebecca Polk ◽  
...  
Keyword(s):  
Older Adults ◽  
Decision Making ◽  
Fake News ◽  
News Content ◽  
Psychological Mechanisms ◽  
News Consumption ◽  
Analytical Reasoning ◽  
Related Risk ◽  
Decision Making Processes

Increasing misinformation spread, including related to COVID-19, is concerning and poses a particular threat to older adults given their enhanced subjective risk perception, disease-related risk, and impaired decision making. To date, psychological factors contributing to news veracity detection in aging are not well understood. This study determined the role of (i) analytical reasoning; (ii) mood; and (iii) news consumption on real and fake news detection among older adults during the COVID-19 pandemic; and examined (iv) the extent to which news content moderated these associations. Participants were randomly assigned to view either COVID-related (N = 119) or non-COVID (N = 123) news articles, followed by analytical reasoning, mood, and news consumption measures. Accuracy for non-COVID fake news was higher than accuracy for non-COVID real news; with this effect not present for COVID-related news. Further, higher analytical reasoning (but not mood or media consumption) was associated with greater non-COVID fake news accuracy, while accuracy for non-COVID real news, or COVID-related real and fake news, did not vary by analytical reasoning ability. Uniquely extending previous work into aging, the novel findings generated here are discussed in the context of psychological mechanisms underlying news veracity detection and related decision-making processes during the COVID-19 pandemic.

scholarly journals Motivated Cognition: Effects of Reward, Emotion, and Other Motivational Factors Across a Variety of Cognitive Domains

2017 ◽  
Vol 3 (1) ◽  
Author(s):  
Christopher R. Madan
Keyword(s):  
Decision Making ◽  
Cognitive Processing ◽  
Semantic Processing ◽  
Emotional Memory ◽  
Motivated Cognition ◽  
Cognitive Domains ◽  
Avoidance Motivation ◽  
Growing Body ◽  
Approach Avoidance

A growing body of literature has demonstrated that motivation influences cognitive processing. The breadth of these effects is extensive and span influences of reward, emotion, and other motivational processes across all cognitive domains. As examples, this scope includes studies of emotional memory, value-based attentional capture, emotion effects on semantic processing, reward-related biases in decision making, and the role of approach/avoidance motivation on cognitive scope. Additionally, other less common forms of motivation–cognition interactions, such as self-referential and motoric processing can also be considered instances of motivated cognition. Here I outline some of the evidence indicating the generality and pervasiveness of these motivation influences on cognition, and introduce the associated ‘research nexus’ at Collabra: Psychology.

scholarly journals Dissociable Contributions of Imagination and Willpower to the Malleability of Human Patience

2017 ◽  
Vol 28 (7) ◽  
pp. 894-906 ◽  
Author(s):  
Adrianna C. Jenkins ◽  
Ming Hsu
Keyword(s):  
Decision Making ◽  
Functional Connectivity ◽  
Intertemporal Choice ◽  
Framing Effects ◽  
Brain Regions ◽  
Behavioral Experiment ◽  
Neural Responses ◽  
Top Down ◽  
Human Functioning

The ability to exercise patience is important for human functioning. Although it is known that patience can be promoted by using top-down control, or willpower, to override impatient impulses, patience is also malleable—in particular, susceptible to framing effects—in ways that are difficult to explain using willpower alone. So far, the mechanisms underlying framing effects on patience have been elusive. We investigated the role of imagination in these effects. In a behavioral experiment (Experiment 1), a classic framing manipulation (sequence framing) increased self-reported and independently coded imagination during intertemporal choice. In an investigation of neural responses during decision making (Experiment 2), sequence framing increased the extent to which patience was related to activation in brain regions associated with imagination, relative to activation in regions associated with willpower, and increased functional connectivity of brain regions associated with imagination, but not willpower, relative to regions associated with valuation. Our results suggest that sequence framing can increase the role of imagination in decision making without increasing the exertion of willpower.

scholarly journals Dopamine Modulation of Intertemporal Decision-making: Evidence from Parkinson Disease

2016 ◽  
Vol 28 (5) ◽  
pp. 657-667 ◽  
Author(s):  
Karin Foerde ◽  
Bernd Figner ◽  
Bradley B. Doll ◽  
Isabel C. Woyke ◽  
Erin Kendall Braun ◽  
...  
Keyword(s):  
Decision Making ◽  
Parkinson Disease ◽  
Intertemporal Choice ◽  
Dopamine Depletion ◽  
Choice Problem ◽  
Sensitivity To Reward ◽  
Intertemporal Decisions ◽  
New Evidence ◽  
Dopamine Modulation

Choosing between smaller prompt rewards and larger later rewards is a common choice problem, and studies widely agree that frontostriatal circuits heavily innervated by dopamine are centrally involved. Understanding how dopamine modulates intertemporal choice has important implications for neurobiological models and for understanding the mechanisms underlying maladaptive decision-making. However, the specific role of dopamine in intertemporal decisions is not well understood. Dopamine may play a role in multiple aspects of intertemporal choices—the valuation of choice outcomes and sensitivity to reward delays. To assess the role of dopamine in intertemporal decisions, we tested Parkinson disease patients who suffer from dopamine depletion in the striatum, in either high (on medication, PDON) or low (off medication, PDOFF) dopaminergic states. Compared with both PDOFF and healthy controls, PDON made more farsighted choices and reduced their valuations less as a function of increasing time to reward. Furthermore, reduced discounting in the high dopaminergic state was robust across multiple measures, providing new evidence for dopamine's role in making decisions about the future.

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