Abstract
| Original language | English |
|---|---|
| Pages (from-to) | 188-200 |
| Journal | Personality and Individual Differences |
| Volume | 146 |
| DOIs | |
| Publication status | Published - 2019 |
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Keywords
- Anchoring and Adjustment
- BOUNDED RATIONALITY
- COGNITIVE BIASES
- Decision-Making
- EXPLORATORY FACTOR-ANALYSIS
- Heuristics and Biases
- INDIVIDUAL-DIFFERENCES
- Individual differences
- JUDGMENT
- Mindware gaps
- Negativity effect
- PSYCHOLOGY
- Positive Illusions
- RISK
- SELF-ESTEEM
- SUNK-COST
- UNREALISTIC OPTIMISM
Cite this
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Dimensions of decision-making : An evidence-based classification of heuristics and biases. / Ceschi, Andrea; Costantini, Arianna; Sartori, Riccardo; Weller, Joshua; Di Fabio, Annamaria.
In: Personality and Individual Differences, Vol. 146, 2019, p. 188-200.Research output: Contribution to journal › Article › Scientific › peer-review
TY - JOUR
T1 - Dimensions of decision-making
T2 - An evidence-based classification of heuristics and biases
AU - Ceschi, Andrea
AU - Costantini, Arianna
AU - Sartori, Riccardo
AU - Weller, Joshua
AU - Di Fabio, Annamaria
PY - 2019
Y1 - 2019
N2 - Traditionally, studies examining decision-making heuristics and biases (H&B) have focused on aggregate effects using between-subjects designs in order to demonstrate violations of rationality. Although H&B are often studied in isolation from others, emerging research has suggested that stable and reliable individual differences in rational thought exist, and similarity in performance across tasks are related, which may suggest an underlying phenotypic structure of decision-making skills. Though numerous theoretical and empirical classifications have been offered, results have been mixed. The current study aimed to clarify this research question. Participants (N = 289) completed a battery of 17 H&B tasks, assessed with a within-subjects design, that we selected based on a review of prior empirical and theoretical taxonomies. Exploratory and confirmatory analyses yielded a solution that suggested that these biases conform to a model composed of three dimensions: Mindware gaps, Valuation biases (i.e., Positive Illusions and Negativity effect), and Anchoring and Adjustment. We discuss these findings in relation to proposed taxonomies and existing studies on individual differences in decision-making.
AB - Traditionally, studies examining decision-making heuristics and biases (H&B) have focused on aggregate effects using between-subjects designs in order to demonstrate violations of rationality. Although H&B are often studied in isolation from others, emerging research has suggested that stable and reliable individual differences in rational thought exist, and similarity in performance across tasks are related, which may suggest an underlying phenotypic structure of decision-making skills. Though numerous theoretical and empirical classifications have been offered, results have been mixed. The current study aimed to clarify this research question. Participants (N = 289) completed a battery of 17 H&B tasks, assessed with a within-subjects design, that we selected based on a review of prior empirical and theoretical taxonomies. Exploratory and confirmatory analyses yielded a solution that suggested that these biases conform to a model composed of three dimensions: Mindware gaps, Valuation biases (i.e., Positive Illusions and Negativity effect), and Anchoring and Adjustment. We discuss these findings in relation to proposed taxonomies and existing studies on individual differences in decision-making.
KW - Anchoring and Adjustment
KW - BOUNDED RATIONALITY
KW - COGNITIVE BIASES
KW - Decision-Making
KW - EXPLORATORY FACTOR-ANALYSIS
KW - Heuristics and Biases
KW - INDIVIDUAL-DIFFERENCES
KW - Individual differences
KW - JUDGMENT
KW - Mindware gaps
KW - Negativity effect
KW - PSYCHOLOGY
KW - Positive Illusions
KW - RISK
KW - SELF-ESTEEM
KW - SUNK-COST
KW - UNREALISTIC OPTIMISM
U2 - 10.1016/j.paid.2018.07.033
DO - 10.1016/j.paid.2018.07.033
M3 - Article
VL - 146
SP - 188
EP - 200
JO - Personality and Individual Differences
JF - Personality and Individual Differences
SN - 0191-8869
ER -