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Is Making a Risky Choice Based on a Weighting and Adding Process? An Eye-Tracking Investigation
Su, Yin; Rao, Li-Lin; Sun, Hong-Yue; Du, Xue-Lei; Li, Xingshan; Li, Shu; Li, S (reprint author), Chinese Acad Sci, Inst Psychol, 16 Lincui Rd, Beijing 100101, Peoples R China.
2013
Source PublicationJOURNAL OF EXPERIMENTAL PSYCHOLOGY-LEARNING MEMORY AND COGNITION
ISSN0278-7393
Subtype期刊论文
Volume39Issue:6Pages:1765-1780
Contribution Rank1
AbstractThe debate about whether making a risky choice is based on a weighting and adding process has a long history and is still unresolved. To address this long-standing controversy, we developed a comparative paradigm. Participants' eye movements in 2 risky choice tasks that required participants to choose between risky options in single-play and multiple-play conditions were separately compared with those in a baseline task in which participants naturally performed a deliberate calculation following a weighting and adding process. The results showed that, when participants performed the multiple-play risky choice task, their eye movements were similar to those in the baseline task, suggesting that participants may use a weighting and adding process to make risky choices in multiple-play conditions. In contrast, participants' eye movements were different in the single-play risky choice task versus the baseline task, suggesting that participants were not likely to use a weighting and adding process to make risky choices in single-play conditions and were more likely to use a heuristic process. We concluded that an expectation-based index for predicting risk preferences is applicable in multiple-play conditions but not in single-play conditions, implying the need to improve current theories that postulate the use of a heuristic process.
Keywordrisky choice weighting and adding process eye movements single-play versus multiple-play probability-proportion task paradigm
Subject AreaPsychology Research Method
Indexed BySCI
Language英语
Funding OrganizationNational Basic Research Program of China (973 Program) [2011CB711000] ; Knowledge Innovation Project of the Chinese Academy of Sciences [KSCX2-EW-J-8] ; National Natural Science Foundation of China [70871110, 31170976] ; Graduate Science and Social Practice Special Funding Innovative Research Program of the Chinese Academy of Sciences
Project Intro.This research was partially supported by the National Basic Research Program of China (973 Program, No. 2011CB711000), the Knowledge Innovation Project of the Chinese Academy of Sciences (No. KSCX2-EW-J-8), the National Natural Science Foundation of China (Nos. 70871110; 31170976), and the Graduate Science and Social Practice Special Funding Innovative Research Program of the Chinese Academy of Sciences. The funders had no role in the study design, data collection and analysis, decision to publish, or preparation of the manuscript. We benefited from discussions with Zhu-Yuan Liang and Cheng-Ming Jiang. We thank Rhoda E. Perozzi and Edmund F. Perozzi for English and content editing assistance.
WOS Research AreaPsychology
WOS SubjectPsychology ; Psychology, Experimental
WOS IDWOS:000326993000009
WOS HeadingsSocial Sciences
WOS KeywordDECISION-MAKING ; PROSPECT-THEORY ; EXPECTED VALUE ; HERTWIG 2006 ; STRATEGY SELECTION ; PROTOCOL ANALYSIS ; PROCESS MODELS ; MULTIPLE-PLAY ; LOSS AVERSION ; SINGLE-PLAY
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Cited Times:16[WOS]   [WOS Record]     [Related Records in WOS]
Document Type期刊论文
Identifierhttp://ir.psych.ac.cn/handle/311026/10841
Collection中国科学院行为科学重点实验室
Corresponding AuthorLi, S (reprint author), Chinese Acad Sci, Inst Psychol, 16 Lincui Rd, Beijing 100101, Peoples R China.
AffiliationChinese Acad Sci, Inst Psychol, Key Lab Behav Sci, Beijing 100101, Peoples R China
Recommended Citation
GB/T 7714
Su, Yin,Rao, Li-Lin,Sun, Hong-Yue,et al. Is Making a Risky Choice Based on a Weighting and Adding Process? An Eye-Tracking Investigation[J]. JOURNAL OF EXPERIMENTAL PSYCHOLOGY-LEARNING MEMORY AND COGNITION,2013,39(6):1765-1780.
APA Su, Yin.,Rao, Li-Lin.,Sun, Hong-Yue.,Du, Xue-Lei.,Li, Xingshan.,...&Li, S .(2013).Is Making a Risky Choice Based on a Weighting and Adding Process? An Eye-Tracking Investigation.JOURNAL OF EXPERIMENTAL PSYCHOLOGY-LEARNING MEMORY AND COGNITION,39(6),1765-1780.
MLA Su, Yin,et al."Is Making a Risky Choice Based on a Weighting and Adding Process? An Eye-Tracking Investigation".JOURNAL OF EXPERIMENTAL PSYCHOLOGY-LEARNING MEMORY AND COGNITION 39.6(2013):1765-1780.
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