11:00 - 12:30
Parallel sessions 2
11:00 - 12:30
Room: HSZ - N4
Chair/s:
Sebastian Hellmann
A feeling of confidence accompanies most of our decisions – whether we face uncertainty, evaluate risks and rewards, or make repeated choices over time. As research on metacognition expands beyond the domain of isolated perceptual judgments, computational models of confidence are increasingly being applied to dynamic and value-driven contexts, providing new insights into how people monitor and adjust their beliefs across decisions. This symposium brings together recent work that explores how confidence is formed, updated, and used in valuation and learning.

The session opens with Robin Vloeberghs who connects the first and second session with a critical perspective on the common assumption that individual decisions are independent. He demonstrates how fluctuations in internal decision criteria systematically influence confidence across repeated choices.
Second, Sebastian Hellmann, introduces a computational framework that integrates Cumulative Prospect Theory with an SDT–like confidence model, jointly capturing risky decision making and metacognitive evaluation, thereby connecting valuation under uncertainty with the principles highlighted across the other talks.
Going from description to learning risky outcomes, Rebecca West uses computational modelling to examine how people monitor their uncertainty when generalizing knowledge from learned risky options to unfamiliar ones. She investigates the strategies people use to infer the mean and variance of unknown payoff distributions through similarity-based generalisation, and how they track their own uncertainty in making these inferences.
Mean and variability are also key aspects of the context in many other learning paradigms. Alexandre Lietard investigates how confidence adapts to such environmental changes in value-based learning, showing that participants’ confidence increases with overall reward magnitudes—even when accuracy does not improve because of higher variability.
Going beyond classical reinforcement learning, Florian Scholten explores metacognition as certainty in attitude acquisition. By visualizing trajectories of confidence accompanying binary choices in evaluative probabilistic learning, he detects patterns of uncertainty reduction in forming positive and negative attitudes.
Together, the symposium compiles an integrative picture of how confidence is generated and updated across the domains of valuation, perception, and learning. By combining formal modeling with empirical data, this symposium highlights principles that link decision uncertainty, subjective confidence, and adaptive behavior within a unified computational framework.
Submission 271
Modeling the Impact of Self-Esteem on Valuation and Metacognition in Risky Decision Making
SymposiumTalk-02
Presented by: Sebastian Hellmann
Sebastian Hellmann
TU Munich, Germany
Decision confidence is still predominantly studied in decisions with a clear notion of correctness (e.g., in perceptual and knowledge tasks). However, there is increasing interest in metacognitive judgments in preferential decisions. Risky choices - decisions between monetary lotteries - are a common paradigm in behavioral economics and decision science to investigate how people evaluate different outcomes and risks. Cumulative prospect theory (CPT) is a prominent computational model to describe how people value monetary gambles and deviate from normative behavior. Yet, few studies have examined how confidence judgments in the context of risky choice reflect this valuation. In addition, it is an open question how individual differences in general self-esteem affect the valuation of risky options and trial-level confidence judgments. We predicted that higher self-esteem is associated with a higher tendency to take risks and a generally higher confidence reports. We combined CPT with a signal-detection-based process model, which jointly describes the process generating choice and confidence judgments in a unified computational model. Using this model, we examined the effect of individual differences in self-esteem in the valuation of lotteries and how these differences also explain differences in confidence judgments. The unified CPT-SDT model revealed that the valuation of the gambles was not affected by individual differences in self-esteem. However, the value-independent bias towards risky options and general the tendency to report higher local confidence increased with higher self-esteem. These results illustrate how combining models of valuation and metacognition can help uncover distinct mechanisms linking personality traits, decision-making, and confidence.