ERIC Number: EJ1447512
Record Type: Journal
Publication Date: 2024
Pages: 25
Abstractor: As Provided
ISBN: N/A
ISSN: N/A
EISSN: EISSN-2363-8761
Do Errors on Classic Decision Biases Happen Fast or Slow? Numeracy and Decision Time Predict Probability Matching, Sample Size Neglect, and Ratio Bias
Ryan Corser; Raymond P. Voss Jr.; John D. Jasper
Journal of Numerical Cognition, v10 Article e12473 2024
Higher numeracy is associated with better comprehension and use of numeric information as well as reduced susceptibility to some decision biases. We extended this line of work by showing that increased numeracy predicted probability maximizing (versus matching) as well as a better appreciation of large sample sizes. At the same time, we replicated the findings that the more numerate were less susceptible to the ratio bias and base rate neglect phenomena. Decision time predicted accuracy for the ratio bias, probability matching, and sample size scenarios, but not the base rate scenarios. Interestingly, this relationship between decision time and accuracy was positive for the ratio bias problems, but negative for the probability matching and sample size scenarios. Implications for research on cognitive ability and decision biases are discussed.
Descriptors: Undergraduate Students, Numeracy, Mathematical Concepts, Decision Making, Statistical Bias, Accuracy, Sample Size, Time on Task, Predictor Variables
Leibniz Institute for Psychology. Universitatsring 15, Trier, 54296, Germany. e-mail: support@psychopen.eu; Web site: https://jnc.psychopen.eu
Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A