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Timing of descriptions shapes experience‐based risky choice
Journal of Behavioral Decision Making ( IF 2.508 ) Pub Date : 2020-06-28 , DOI: 10.1002/bdm.2197
Leonardo Weiss‐Cohen 1 , Emmanouil Konstantinidis 2 , Nigel Harvey 3
Affiliation  

Risky decisions based on the combination of different sources of information (e.g., decisions from description‐plus‐experience) have mostly been ignored, as research has focused on examining each source separately. Across three experiments, we explore the intricate relationship between experience and description by manipulating when descriptive information about risky options is made available during an experience‐based task. The results show that the amount of prior experience moderates the way that descriptive information is considered and integrated in the decision‐making process: Descriptions affected behavior more when participants had little experience with the task, whereas their effect was less pronounced with extended experience. This relationship reversed when participants had access to foregone payoffs, with descriptions being considered more when participants had more time to interact with the task. Potential mechanisms and theoretical accounts are discussed with an emphasis on how the results and conclusions of the present work can be applied to the effective design of warning labels.

中文翻译:

描述的时间决定了基于经验的风险选择

由于研究集中于分别检查每个来源,因此基于不同信息来源组合的风险决定(例如,来自描述加经验的决定)大多被忽略。在三个实验中,我们通过操纵在基于经验的任务中何时提供有关风险选项的描述性信息来探索经验与描述之间的复杂关系。结果表明,先前的经验量适中了描述性信息在决策过程中的考虑和整合方式:当参与者对任务的经验很少时,描述对行为的影响更大,而随着经验的增加,描述的影响不那么明显。当参与者获得已放弃的收益时,这种关系就会逆转,当参与者有更多时间与任务互动时,会考虑使用更多描述。讨论了潜在的机制和理论解释,重点是如何将当前工作的结果和结论应用于警告标签的有效设计。
更新日期:2020-06-28
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