The Future of Decisions From Experience
Connecting Real-World Decision Problems to Cognitive Processes
Bibliographic Data
| ID | 21786239 |
|---|---|
| Authors | Sebastian Olschewski (0000-0001-9371-1597, University of Basel, corresponding author), Ashley Luckman (0000-0002-4084-0376, University of Exeter), Alice Mason (0000-0002-3121-8569, University of Warwick), Elliot A Ludvig (0000-0002-0031-6713, University of Warwick), Emmanouil Konstantinidis (0000-0002-4782-0749, University of Warwick) |
| Year | 2024 |
| Volume | 19 |
| Issue | 1 |
| Pages | 82-102 |
| Publication date | 2024-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Perspectives on Psychological Science (JOURNAL) |
| Journal identifiers | ISSN: 1745-6916 • E-ISSN: 1745-6924 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/17456916231179138 |
| PMID | 37390328 |
| OpenAlex | W4382656885 |
| Language | EN |
| Citations received | 10 |
| References cited | 223 |
In many important real-world decision domains, such as finance, the environment, and health, behavior is strongly influenced by experience. Renewed interest in studying this influence led to important advancements in the understanding of these decisions from experience (DfE) in the last 20 years. Building on this literature, we suggest ways the standard experimental design should be extended to better approach important real-world DfE. These extensions include, for example, introducing more complex choice situations, delaying feedback, and including social interactions. When acting upon experiences in these richer and more complicated environments, extensive cognitive processes go into making a decision. Therefore, we argue for integrating cognitive processes more explicitly into experimental research in DfE. These cognitive processes include attention to and perception of numeric and nonnumeric experiences, the influence of episodic and semantic memory, and the mental models involved in learning processes. Understanding these basic cognitive processes can advance the modeling, understanding and prediction of DfE in the laboratory and in the real world. We highlight the potential of experimental research in DfE for theory integration across the behavioral, decision, and cognitive sciences. Furthermore, this research could lead to new methodology that better informs decision-making and policy interventions
Cognition · Cognitive psychology · Cognitive science · Management science · Perception · Computer Science · Decision-Making and Behavioral Economics · Engineering · Neural and Behavioral Psychology Studies · Psychology
Rare and extreme outcomes in risky choice
Attention! Do We Really Need Attention Checks
Compressed representations and attentional competition in numeric integration for average estimations
What’s in a sample? Epistemic uncertainty and metacognitive awareness in risk taking
How sampling strategies shape experience-based risky choice
Effects of Descriptive Information on Mental Representations of Probability and Future Behavior in the Context of Personal Experience
Similarity and Consistency in Algorithm‐Guided Exploration
The mediating role of engagement in the relationship between performance expectancy, effort expectancy, and students' behavioral intention to use ChatGPT
Sustainable community renewal with resident participation
Beyond Sight
The Wiley Blackwell Handbook of Judgment and Decision Making
One and Done? Optimal Decisions From Very Few Samples
Lack of Trust, Conspiracy Beliefs, and Social Media Use Predict Covid-19 Vaccine Hesitancy
Social Preferences, Beliefs, and the Dynamics of Free Riding in Public Goods Experiments
The Influence of Narrative v. Statistical Information on Perceiving Vaccination Risks
Decision field theory
Cortical substrates for exploratory decisions in humans
The description–experience gap in risky choice
Adaptive strategy selection in decision making.
Time-dependent gambling
The Dishonesty of Honest People
Beware of samples! A cognitive-ecological sampling approach to judgment biases.
The Psychology of Fake News
Log or Linear? Distinct Intuitions of the Number Scale in Western and Amazonian Indigene Cultures
Ensemble Perception
Decision by sampling
Bayesian integration in sensorimotor learning
Model-Based Influences on Humans' Choices and Striatal Prediction Errors
Nonverbal Counting in Humans
An epidemic of uncertainty
The serial position effect of free recall.
The neural basis of the Weber–Fechner law
Order effects in belief updating
Dictator games
Depression Babies
Exploiting moral wiggle room
Decisions from Experience and the Effect of Rare Events in Risky Choice
Visual fixations and the computation and comparison of value in simple choice
Barriers of Influenza Vaccination Intention and Behavior – A Systematic Review of Influenza Vaccine Hesitancy, 2005 – 2016
Climate Change Disinformation and How to Combat It
An experimental analysis of ultimatum bargaining
Predicting Risk Sensitivity in Humans and Lower Animals
Salience Theory of Choice Under Risk
A Description–Experience Framework of the Psychology of Risk
The impact of experience on decisions based on pre-choice samples and the face-or-cue hypothesis
Elucidating the differential impact of extreme-outcomes in perceptual and preferential choice
Biased confabulation in risky choice
A description–experience gap in statistical intuitions
Testing models of context-dependent outcome encoding in reinforcement learning
Choice rates are independent from perceived patterns (when patterns are not obvious)
Perceived patterns in decisions from experience and their influence on choice variability and policy diversification
The relationship between personal experience and belief in the reality of global warming
Personal experience and the ‘psychological distance’ of climate change
Decision making for others involving risk
A meta-analytic review of two modes of learning and the description-experience gap
What shapes perceptions of climate change? New research since 2010
Are flood victims more concerned about climate change than other people? The role of direct experience in risk perception and behavioural response
Attribution matters
Personal experience with climate change predicts intentions to act
Timing of descriptions shapes experience‐based risky choice
When experience is better than description
Small feedback‐based decisions and their limited correspondence to description‐based decisions
A Description–Experience Gap in Social Interactions
People Wait Longer when the Alternative is Risky
Decisions from Experience
The influence of biased exposure to forgone outcomes
Not all uncertainty is treated equally
Extreme Outcomes Sway Risky Decisions from Experience
Valuation and estimation from experience
The effect of foregone payoffs on underweighting small probability events
Eyes on the Prize? Evidence of Diminishing Attention to Experienced and Foregone Outcomes in Repeated Experiential Choice
Degrees of uncertainty
Experience‐Based Decisions Favor Riskier Alternatives in Large Sets
The role of experience in the Gambler's Fallacy
Why Do We Want to Delay Actions on Climate Change? Effects of Probability and Timing of Climate Consequences
Adaptive behavior leads to under-diversification
Towards a deeper understanding of impression formation—New insights gained from a cognitive-ecological perspective
Rational Cooperation in the Finitely Repeated Prisoner's Dilemma
Selective overweighting of larger magnitudes during noisy numerical comparison
Using social and behavioural science to support Covid-19 pandemic response
The Role of Personal Experience in Contributing to Different Patterns of Response to Rare Terrorist Attacks
What shapes perceptions of climate change
What's next? Judging sequences of binary events
Individual risk attitudes arise from noise in neurocognitive magnitude representations
Generalization guides human exploration in vast decision spaces
Efficient coding of numbers explains decision bias and noise
Complacency, panic, and the value of gentle rule enforcement in addressing pandemics
Human value learning and representation reflect rational adaptation to task demands
Evidence integration and decision confidence are modulated by stimulus consistency
How experimental methods shaped views on human competence and rationality
Man as an intuitive statistician
Beyond discrete biases
| Unique citing works | 10 |
|---|---|
| Citations per year | 5 |
| Citation span | 2024 - 2026 (3) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 8 |