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Testing the advantages of conscious vs. unconscious thought for complex decisions in a distraction free paradigm
McElroy, Todd; Dickinson, David L. - 2016
In this study we test predictions from Unconscious Thought Theory (UTT) that unconscious thought will lead to better decision making in complex decision tasks relative to conscious thought. Different from prior work testing this prediction, we use a method of manipulating conscious and...
Persistent link: https://www.econbiz.de/10011580853
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Cognitive Abilities and Behavioral Biases
Oechssler, Joerg; Roider, Andreas; Schmitz, Patrick W. - 2021
We use a simple, three-item test for cognitive abilities to investigate whether established behavioral biases that play a prominent role in behavioral economics and finance are related to cognitive abilities. We find that higher test scores on the Cognitive Reflection Test of Frederick (2005)...
Persistent link: https://www.econbiz.de/10013324818
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Cognitive abilities and behavioral biases
Oechssler, Joerg (contributor); Roider, Andreas (contributor) - 2008
We use a simple, three-item test for cognitive abilities to investigate whether established behavioral biases that play a prominent role in behavioral economics and finance are related to cognitive abilities. We find that higher test scores on the Cognitive Reflection Test of Frederick (2005)...
Persistent link: https://www.econbiz.de/10003747336
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Cognitive abilities and behavioral biases
Oechssler, Joerg; Roider, Andreas; Schmitz, Patrick W. - 2008
Persistent link: https://www.econbiz.de/10013443423
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Over-confidence and low-cost heuristics : an experimental investigation of choice behavior
Cicognani, Simona; Mittone, Luigi - 2014
This paper extends choice theory by allowing for the interaction between cognitive costs and imitative dynamics. The authors experimentally investigate the role of imitation when participants face a task which is costly in cognitive terms. In order to disentangle different choice dynamics, they...
Persistent link: https://www.econbiz.de/10010425055
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Decision Neuroscience and Aging
Samanez-Larkin, Gregory R. - 2015
Until recently we have known little about how core decision processes change with age and how aging may impact the structure and function of corresponding ventromedial frontostriatal neural systems (Samanez-Larkin & Knutson, 2014). The chapter begins by briefly orienting the reader to...
Persistent link: https://www.econbiz.de/10013015918
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Cognitive uncertainty and overconfidence
Amelio, Andrea - 2022
Overconfidence is one of the most ubiquitous cognitive bias. There is copious evidence of overconfidence being relevant in a diverse set of economic domains. In this paper, we relate the recent concept of cognitive uncertainty with overconfidence. Cognitive uncertainty represents a decision...
Persistent link: https://www.econbiz.de/10013257953
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Deception under time pressure : conscious decision or a problem of awareness?
Konrad, Kai A.; Lohse, Tim; Simon, Sven A. - 2017
dimension for dishonest decision-making and for the cognition process of the chance to deceive. We conduct a laboratory … experiment of self-serving deceptive behavior which combines two exogenously varied levels of reflection time with a cognition … time. More importantly, decomposing misreporting into its two components, i.e., the cognition process of the misreporting …
Persistent link: https://www.econbiz.de/10011723505
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Similarity and consistency in algorithm-guided exploration
Bao, Yongping; Danwitz, Ludwig; Dvorak, Fabian; … - 2022
Algorithm-based decision support systems play an increasingly important role in decisions involving exploration tasks, such as product searches, portfolio choices, and human resource procurement. These tasks often involve a trade-off between exploration and exploitation, which can be highly...
Persistent link: https://www.econbiz.de/10013482224
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The effect of language on economic behavior : experimental evidence from children's intertemporal choices
Sutter, Matthias; Angerer, Silvia; Glätzle-Rützler, … - 2015 - Date: 25 September 2015
According to Chen's (2013) linguistic-savings hypothesis, languages which grammatically separate the future and the present (like English or Italian) induce less future-oriented behavior than languages in which speakers can refer to the future by using present tense (like German). We complement...
Persistent link: https://www.econbiz.de/10011343740