Psychology Dictionary of ArgumentsHome
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| Decision-making process: A series of steps that people take to make decisions, such as identifying the decision, gathering information, and evaluating alternatives._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Experimental Psychology on Decision-making Processes - Dictionary of Arguments
Parisi I 119 Decision-making process/Experimental Psychology/Wilkinson-Ryan: Studies have shown that numeracy has important, serious effects on decision-making. Ellen Peters and co-authors (2006)(1) gave a pool of subjects a series of questions designed to test numeracy. The items ranged from very simple ("Which of the following represents the biggest risk of getting a disease? 1 10%, 5%?") to the moderately challenging ("The chance of getting a viral infection is .0005. Out of 10,000, about how many of them are expected to get infected?"). They then ran a series of common decision-making experiments, including framing effects, risk representation, and affective information. High-numeracy subjects made better decisions than low-numeracy subjects. Results: They were less likely to be swayed by framing effects (e.g. 75% of lives saved vs. 2 5% of lives lost), less likely to underestimate risks represented by percentages, and less likely to choose a low-probability reward that felt better. Legal decision-making: Rowell and Bregant (2014)(2) applied this set of findings to legal decision-making. Using law students as subjects, they measured numeracy and asked subjects to make a series of legal judgments. They found some effects of numeracy on decision-making, notably in how the participants judged the defendant's precautions in a tort case, but more notably found population-wide effects of framing, suggesting widespread susceptibility to framings that implicate loss aversion. >Loss aversion. 1. Peters, Ellen, Daniel Västfjäll, Paul Slovic, C. K. Mertz, Ketti Mazzocco, and Stephan Dickert (2006). "Numeracy and Decision Making." Psychological Science 17: 407-413. 2. Rowell, Arden and Jessica Bregant (2014). "Numeracy and Legal Decision Making." Arizona State Law Journal 46: 13-29. Wilkinson-Ryan, Tess. „Experimental Psychology and the Law“. In: Parisi, Francesco (ed) (2017). The Oxford Handbook of Law and Economics. Vol 1: Methodology and Concepts. NY: Oxford University Press_____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Experimental Psychology Parisi I Francesco Parisi (Ed) The Oxford Handbook of Law and Economics: Volume 1: Methodology and Concepts New York 2017 |
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> Counter arguments in relation to Decision-making Processes
