Information encoding and decision time as variables in human choice behavior.

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Abstract
Paired-comparison wagers were offered to Ss under 2 different methods of encoding decision-parameter information. Method 1 provided S with a set of 4 elements of nonindependent parameter information, Method 2 with a subset comprised of 2 independent elements. Ss' choices showed significantly closer correspondence to an EV-maximization decision rule under Method 2, for both independent groups and repeated-measures designs. With repeated measures, it was found that given sufficient decision time, Method 2 transferred positively to Method 1, with the opposite true (negative transfer) when order of administration was reversed. It was concluded that the basic problem for S in choice situations is the selection of decision rules rather than of decision alternatives. Decision rules may then be asymmetrically transferrable across different encoding methods. (PsycINFO Database Record (c) 2006 APA, all rights reserved)

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