Universität zu Köln

Li, Jiahui, Huegelschaefer, Sabine and Achtziger, Anja (2019). A self-regulatory approach to rational decisions: The implemental mindset optimizes economic decision making in situations requiring belief updating. J. Theor. Soc. Psychol., 3 (2). S. 115 - 127. HOBOKEN: WILEY. ISSN 2475-0387

Full text not available from this repository.

Abstract

We examined the effects of the deliberative and implemental mindset on decision behavior when decisions require Bayesian updating of beliefs. In the decision task, in some situations Bayes' rule conflicts with a simple reinforcement-based heuristic. Previous research showed that in these situations individuals rely on the faulty heuristic, hence committing many decision errors. We investigated deliberative and implemental mindset effects on the reinforcement heuristic. Results showed that the implemental mindset improved rational decision making. Participants in an implemental mindset exhibited decreased rates of reinforcement errors compared to the deliberative mindset, the neutral mindset, and the baseline condition. We further found that, compared to the deliberative mindset, the implemental mindset was also more beneficial for decision performance in situations where Bayes' rule and reinforcement were aligned.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Li, Jiahui UNSPECIFIED UNSPECIFIED UNSPECIFIED Huegelschaefer, Sabine UNSPECIFIED UNSPECIFIED UNSPECIFIED Achtziger, Anja UNSPECIFIED UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-153019
DOI:	10.1002/jts5.38
Journal or Publication Title:	J. Theor. Soc. Psychol.
Volume:	3
Number:	2
Page Range:	S. 115 - 127
Date:	2019
Publisher:	WILEY
Place of Publication:	HOBOKEN
ISSN:	2475-0387
Language:	English
Faculty:	Unspecified
Divisions:	Unspecified
Subjects:	no entry
Uncontrolled Keywords:	Keywords Language FINANCIAL INCENTIVES; REINFORCEMENT; PERFORMANCE; INTENTIONS; RISK; BIAS; SET Multiple languages Psychology, Social Multiple languages
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/15301