Extreme Outcomes Sway Risky Decisions from Experience

Whether buying stocks or playing the slots, people making real‐world risky decisions often rely on their experiences with the risks and rewards. These decisions, however, do not occur in isolation but are embedded in a rich context of other decisions, outcomes, and experiences. In this paper, we systematically evaluate how the local context of other rewarding outcomes alters risk preferences. Through a series of four experiments on decisions from experience, we provide evidence for an extreme‐outcome rule, whereby people overweight the most extreme outcomes (highest and lowest) in a given context. As a result, people should be more risk seeking for gains than losses, even with equally likely outcomes. Across the experiments, the decision context was varied so that the same outcomes served as the high extreme, low extreme, or neither. As predicted, people were more risk seeking for relative gains, but only when the risky option potentially led to the high‐extreme outcome. Similarly, people were more risk averse for relative losses, but only when the risky option potentially led to the low‐extreme outcome. We conclude that in risky decisions from experience, the biggest wins and the biggest losses seem to matter more than they should. Copyright © 2013 John Wiley & Sons, Ltd.     

Mr. Richie and the tourists

This paper tracks the affective intensity and emergent potential that is part of making contact with Richie, a local Creole villager from Walliceville, Belize. Tourists and expats are drawn to Richie and seduced by him, his colorful language and personality. My attention in this paper is directed to the spatialized force fields of contact between tourists, expats and local creole villagers, like Richie, by attending to the way these contact fields conjure forces of wild vitality that both agitate and fascinate social life in Belize. I focus on how Richie acts as a powerful representation of tropical “no worries” Creole life. But more than that, he carries a sensory charge, seducing tourists and expats into crazy moments of abandon, a “sensing beyond security” (Manning, 2007: 134–161), that exceeds the work of Caribbean tourist representations to become moments when forces are activated as impacts that provoke things, for better or for worse. I argue that such moments spawn worlds that build forms of attachment and become the vital fields of sensations that incite life as emergent forces coming into play in this postcolonial state of emergency taking shape as neo-liberal exception, on the edge of global empire, in Belize.     

Driving speed choice: The role of conscious monitoring and control (reinvestment) when driving

This study aimed to examine the role of reinvestment - the propensity to consciously monitor and control actions (movement specific reinvestment) and to consciously monitor and evaluate decision making processes (Decision specific reinvestment) while driving in everyday risky scenarios. The study also aimed to evaluate the association between reinvestment and previously validated driver attitude measures. Fifty one participants completed a series of questionnaires (Driving Self-Efficacy Scale, Driver Attitude Questionnaire, Movement Specific Reinvestment Scale, Decision Specific Reinvestment Scale) after which they completed a test phase in a driving simulator. In the test phase, driving scenarios included roads with different markings (i.e., double yellow, wide centrelines, wire rope barriers, Audio Tactile Profiled markings) and alerting scenarios (i.e., police car present, high crash risk area sign, reduced speed zone). Results revealed that on risky roads (wide centrelines), participants with a high propensity for decision specific reinvestment drove slower than those with a low propensity. Driver experience, attitudes towards speeding and scores on the Decision Reinvestment subscale of the Decision Specific Reinvestment Scale significantly predicted speed choice. More experienced participants with higher scores on the Decision Reinvestment subscale were more likely to drive slower and participants with worse attitudes towards speeding were likely to drive faster. Participants with a low propensity for movement specific reinvestment (specifically, Movement Self-Consciousness) reduced their speed to a greater extent than those with a high propensity when driving in the police car scenario. There was some evidence to suggest that high decision specific and movement specific reinvesters were more likely to be involved in crashes and receive driving infringements. The current study is the first to demonstrate a significant relationship between reinvestment and driving. The implications of these findings for road safety are discussed.     

内隐多效性选择的ERP证据

采用事件相关电位技术,考察内隐多效性选择及其神经机制。被试的任务是认真观看配对的纯色图片刺激,并进行分类按键反应。实验结果发现,在P2上,积极启动刺激比对照刺激激发了更大的P2波幅; 对比对照刺激,积极启动刺激在左脑、大脑中部和后脑诱发了更大的P2波幅,其中右脑的效应最大。在N2上,积极启动刺激比对照刺激激发了更小的N2波幅; 对比对照刺激,积极启动刺激在左脑、大脑中部和后脑诱发了更小的N2波幅,其中右脑的效应最大。在P3上,积极启动刺激比对照刺激激发了更大的P3波幅; 对比对照刺激,积极启动刺激在左脑、大脑中部和后脑诱发了更大的P3波幅,其中右脑的效应最大。研究结果表明当外显目标与内隐目标同时被呈现时,被试趋向于做多效性选择,这可能表明无意识信息加工具有相当大的权重。且右后部脑区可能是加工多效性刺激的核心和关键区域,P3成分可能反应了内隐多效性选择的精细加工过程,能够作为内隐多效性选择的有效的ERPs指标。     

When Intertemporal Rewards Are Hedonic,Larger Units of Wait Time Boost Patience

In intertemporal choices between smaller‐sooner (SS) and larger‐later (LL) rewards, five studies reveal that patience for the LL option is influenced by an interactive effect of the measurement units used to express wait time (large vs. small) and the type of the reward (hedonic vs. utilitarian). Specifically, larger time units boost patience, but more so when rewards are hedonic rather than utilitarian. In line with the numerosity heuristic, the effect of time units on patience is mediated by larger time units shrinking wait time perception. This effect arises because hedonic (vs. utilitarian) rewards promote a reliance on heuristics rather than systematic calculations. Therefore, a more calculative mindset diminishes the effect of units even for hedonic rewards and eliminates the hedonic‐utilitarian asymmetry. These results contribute to research on numerosity, intertemporal choice, and hedonic‐utilitarian differences, and offer a simple tool for practitioners to influence patience.     

The synergistic effect of prosociality and physical attractiveness on mate desirability

Mate selection requires a prioritization and joint evaluation of different traits present or absent in potential mates. Herein, we focus on two such traits – physical attractiveness and prosociality – and examine how they jointly shape impressions of overall desirability. We report on two related experiments which make use of an innovative methodology combining large samples of raters and target persons (i.e., stimuli) and information on targets’ behaviour in economic games representing altruistic behaviour (Experiment 1) and trustworthiness (Experiment 2), two important facets of prosociality. In accordance with predictions derived from a cognitive perspective on mate choice and sexual strategies theory, the results show that the impact of being prosocial on an individual's overall desirability was increased further by them also being physically attractive, but only in long-term mating contexts. Furthermore, we show that men's mate preferences for certain prosocial traits (i.e., trustworthiness) were more context-dependent than women's due to differential evolutionary pressures for ancestral men and women.     

Discounting: A practical guide to multilevel analysis of choice data

Multilevel modeling provides the ability to simultaneously evaluate the discounting of individuals and groups by examining choices between smaller sooner and larger later rewards. A multilevel logistic regression approach is advocated in which sensitivity to relative reward magnitude and relative delay are considered as separate contributors to choice. Examples of how to fit choice data using multilevel logistic models are provided to help researchers in the adoption of these methods.     

A Systematic Scoping Review of the Choice Architecture Movement: Toward Understanding When and Why Nudges Work

In this paper, we provide a domain‐general scoping review of the nudge movement by reviewing 422 choice architecture interventions in 156 empirical studies. We report the distribution of the studies across countries, years, domains, subdomains of applicability, intervention types, and the moderators associated with each intervention category to review the current state of the nudge movement. Furthermore, we highlight certain characteristics of the studies and experimental and reporting practices that can hinder the accumulation of evidence in the field. Specifically, we found that 74% of the studies were mainly motivated to assess the effectiveness of the interventions in one specific setting, while only 24% of the studies focused on the exploration of moderators or underlying processes. We also observed that only 7% of the studies applied power analysis, 2% used guidelines aiming to improve the quality of reporting, no study in our database was preregistered, and the used intervention nomenclatures were non‐exhaustive and often have overlapping categories. Building on our current observations and proposed solutions from other fields, we provide directly applicable recommendations for future research to support the evidence accumulation on why and when nudges work. Copyright © 2017 John Wiley & Sons, Ltd.     

How Cross‐Linguistic Differences in the Grammaticalization of Future Time Reference Influence Intertemporal Choices

According to Chen's (2013) Linguistic Savings Hypothesis (LSH), our native language affects our economic behavior. We present three studies investigating how cross‐linguistic differences in the grammaticalization of future‐time reference (FTR) affect intertemporal choices. In a series of decision scenarios about finance and health issues, we let speakers of altogether five languages that represent FTR with increasing strength, that is, Chinese, German, Danish, Spanish, and English, choose between hypothetical sooner‐smaller and later‐larger reward options. While the LSH predicts a present‐bias that increases with FTR‐strength, our decision makers preferred later‐larger options and this future‐bias increased with FTR‐strength. In multiple regressions, the FTR‐strength effect persisted when controlled for socioeconomic and cultural differences. We discuss why our findings deviate from the LSH and ask in how far the FTR‐strength effect represents a habitual constitution of linguistic relativity or an instance of online decision framing.