Forgetting the Past: Individual Differences in Recency in Subjective Valuations from Experience

Autor/inn/en	Ashby, Nathaniel J. S.; Rakow, Tim
Titel	Forgetting the Past: Individual Differences in Recency in Subjective Valuations from Experience
Quelle	In: Journal of Experimental Psychology: Learning, Memory, and Cognition, 40 (2014) 4, S.1153-1162 (10 Seiten) PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0278-7393
DOI	10.1037/a0036352
Schlagwörter	Individual Differences; Memory; Experience; Value Judgment; Time; Risk; Information Utilization; Cognitive Ability; Decision Making; Models; Foreign Countries; Reaction Time; United Kingdom (England) + Suchen Sie Ihr Suchwort? Individueller Unterschied; Gedächtnis; Erfahrung; Werturteil; Zeit; Risiko; Informationsnutzung; Denkfähigkeit; Decision-making; Entscheidungsfindung; Analogiemodell; Ausland; Reaktionsvermögen
Abstract	Recent research investigating decisions from experience suggests that not all information is treated equally in the decision process, with more recently encountered information having a greater impact. We report 2 studies investigating how this differential treatment of sequentially encountered information affects subjective valuations of risky prospects when observations of past outcomes must be used to estimate the prospect's payoff distribution, and examine how individual differences in cognitive capacities influence information usage. In Study 1 we found that a sliding window of information model that averages a subset of (only) the most recently encountered outcomes (samples) fit the subjective valuation data for a portion of individuals better than models that integrate all observed outcomes. This pattern of results is replicated in Study 2, in which we also found that the amount of information used to form valuations varies greatly between individuals, and that individual difference in memory span explains a portion of this variation. Combined, these results suggest a process in which information usage is in part reliant on cognitive capacity, and where information aggregation appears to be memory based rather than online, providing new insight into the processes involved in the construction of valuation in experiential decisions. (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2020/1/01