Individual differences in adult decision-making competence.
Open accessAbstract
The authors evaluated the reliability and validity of a set of 7 behavioral decision-making tasks, measuring different aspects of the decision-making process. The tasks were administered to individuals from diverse populations. Participants showed relatively consistent performance within and across the 7 tasks, which were then aggregated into an Adult Decision-Making Competence (A-DMC) index that showed good reliability. The validity of the 7 tasks and of overall A-DMC emerges in significant relationships with measures of socioeconomic status, cognitive ability, and decision-making styles. Participants who performed better on the A-DMC were less likely to report negative life events indicative of poor decision making, as measured by the Decision Outcomes Inventory. Significant predictive validity remains when controlling for demographic measures, measures of cognitive ability, and constructive decision-making styles. Thus, A-DMC appears to be a distinct construct relevant to adults' real-world decisions.
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Previous research has indicated some degree of common variance among heuristics-and-biases tasks.
“Nevertheless, previous research has indicated some degree of common variance among them (Bruine de Bruin, Parker, & Fischhoff, 2007;Finucane & Gullion, 2010;Klaczynski, 2001;Parker & Fischhoff, 2005;Slugoski, Shields, & Dawson, 1993;Stanovich & West, 1998c, 2000;West, Toplak, & Stanovich, 2008).”
From The Cognitive Reflection Test as a predictor of performance on heuristics-and-biases tasks (2011) · cites this paper as Bruine de Bruin, Parker, & Fischhoff, 2007
These results converge with a body of other work indicating that susceptibility to these biases varies considerably.
“These results converge with a body of other work indicating that the susceptibility to these biases varies considerably (Bruine de Bruin et al., 2007;Cokely & Kelley, 2009;Del Missier, Mantyla, & Bruine de Bruine, 2010;Dohmen, Falk, Huffman, Marklein, & Sunde, 2009;Klaczynski, 2001;Oechssler et al., 2009;Stanovich & West, 1998a, 1998c, 1999, 2000, 2008b;West et al., 2008).”
From The Cognitive Reflection Test as a predictor of performance on heuristics-and-biases tasks (2011) · cites this paper as Bruine de Bruin et al., 2007
Recent work on individual differences in cognitive function has begun to challenge the assumption that intelligence tests encompass most of what is important cognitively.
“Recent work on individual differences in cognitive function has begun to challenge this assumption (Bruine de Bruin et al., 2007;Oechssler et al., 2009;Stanovich, 2009bStanovich, , 2011;;Stanovich & West, 2007, 2008a, 2008b).”
From The Cognitive Reflection Test as a predictor of performance on heuristics-and-biases tasks (2011) · cites this paper as Bruine de Bruin et al., 2007
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- Authors
- Bruine de Bruin, W., Parker, A. M., & Fischhoff, B.
- Affiliations
- RAND Corporation (US)
- Carnegie Mellon University (US)
- Venue
- Journal of Personality and Social Psychology
- Published
- 2007-05
- Volume
- 92
- Issue
- 5
- Pages
- 938-956
- ISSN
- 0022-3514 (ISSN-L)
- 1939-1315
- OpenAlex
- W2039223548
- Semantic Scholar
- 22168bbc83ed5c1b933d71c3f881dc85b0709321
- Cited by
- 906
- References
- 110
- Citations by year
- 2026: 33 · 2025: 52 · 2024: 45 · 2023: 60 · 2022: 62 · 2021: 81 · 2020: 71 · 2019: 62 · 2018: 54 · 2017: 49 · 2016: 47 · 2015: 70 · 2014: 49 · 2013: 49 · 2012: 34
- FWCI
- 12.54
- Type
- journal article
- Language
- en
- Open access
- green
- figshare.com
- Licence
- cc-by
- Locations
- Journal of Personality and Social Psychology (publishedVersion)
- PubMed (publishedVersion)
- KiltHub Repository (submittedVersion)
- Figshare (submittedVersion, cc-by)
- KiltHub Repository
- Funders
- National Science Foundation (SES-0213782)
- Topics
- Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
- Social Sciences › Psychology › Experimental and Cognitive Psychology › Cognitive Abilities and Testing
- Social Sciences › Decision Sciences › Management Science and Operations Research › Psychometric Methodologies and Testing
- Keywords
- individual differences, construct validity, predictive validity, socioeconomic status, cognitive ability, decision-making styles, negative life events
- MeSH terms
- Adaptation, Psychological, Adolescent, Adult, Aged, Aged, 80 and over, Aptitude, Culture, Decision Making, Female, Humans, Individuality, Intelligence, Internal-External Control, Male, Middle Aged, Personality Inventory, Problem Solving, Psychometrics, Self Concept, Social Values, Socioeconomic Factors, Reproducibility of Results
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