08:30 - 10:00
Mon-B16-Talk I-
Mon-Talk I-
Room: B16
Chair/s:
Linda McCaughey
Cognitive-ecological approaches have emphasised the influence of the information sample on judgements and decisions. These information samples are often actively solicited and thus crucially influenced by the agent’s cognitive processing and goals. This symposium will shed light on how these influences extend to judgements and decisions via the underlying information sampling process. Seidler will discuss how basic cognitive processes in number perception and integration impact economic judgement when information is acquired by sequentially sampling positive and negative numbers. Prager will highlight diagnosticity as a crucial determinant of sampling and judgement behaviour. In a personnel selection context, not only the characteristics of the information on the candidate, but also their interaction with characteristics of the target job profile determined information search, job-fit judgements and confidence. Taking up confidence, McCaughey will examine how accumulated evidence and subjective confidence are used to regulate the amount of sampled information and discuss potential ways of how the two interact. Niese tested the role of sampling in an evaluative conditioning context and will present findings demonstrating that people show a positive evaluative shift after sampling conditioned stimuli more (vs. less frequently), regardless of whether a stimulus is paired with positive or negative unconditioned stimuli. Importantly, this effect is moderated by people’s sampling goals. Biella will explain how the exploration of the social environment strongly depends on whether the information search is interested (information is immediately rewarding conditionally on its pleasantness) or disinterested (information is accumulated for later use). How biased an information sample is depends on which of the two dominates the sampling process. The final discussion will engage the audience in a discussion about how these research questions and insights can be connected in the name of theory integration.
Adapting Information Search through Subjective Confidence and Accumulated Evidence
Mon-B16-Talk I-03
Presented by: Linda McCaughey
Linda McCaughey, Klaus Fiedler
Heidelberg University
Decisions are almost always preceded by information search aimed at finding the option that is most preferable. How much information one acquires before making a decision should depend on how sure one wants to be. This aspired confidence level presumably plays an important role in regulating pre-decisional search.
To investigate this role we conducted two experiments (combined N=168), in which participants made binary decisions based on self-truncated sampled information and reported their confidence. The first experiment manipulated general confidence levels while the second manipulated decision importance.
Participants in the first experiment underwent a trial phase in which one condition received negatively distorted decision feedback while the control received accurate feedback before completing the remainder of the decisions without any additional feedback.
As expected, participants in the distorted-feedback condition collected significantly more information, on average. Nevertheless, they also reported significantly lower confidence levels, but tended to truncate their decision after a very similar amount of evidence. A regression revealed that higher evidence was positively related with confidence for both conditions, but the distorted-feedback condition needed more evidence to reach the same confidence level as the control condition.
The second experiment manipulated decision importance within participants. While participants collected significantly more information for more important decisions, this did not result in higher evidence or higher reported confidence levels. Hence, situational influences may influence how much evidence we need to reach an aspired confidence level, but sample size seems to have an additional effect, which might be maladaptive.
Keywords: sampling, information search, confidence, meta-cognition, self-regulation