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Psychological processes in decision making: probabilities, risk and chance
Stockholm University, Faculty of Social Sciences, Department of Psychology.
2014 (English)In: Polish Psychological Bulletin, ISSN 0079-2993, E-ISSN 1641-7844, Vol. 45, no 1, 1-2 p.Article in journal (Refereed) Published
Abstract [en]

Even though, we all want to use the information that is available to us in an optimal way when we make decisions, we are not always able to do so. This is particularly true for intuitive unaided decisions and therefore the set of six papers in this special issue section investigate some of these shortcomings and gives us some hints as how to overcome them. Decisions concern the future but in many contexts what will happen in the future is not certain and different outcomes could follow a decision. Hence, many decisions have to be taken under risk and uncertainty, which is the main theme of the papers of this section. Because, the uncertainty of the future is often described by probabilities of different outcomes and consequences of a decision, the papers in this section have studied different aspects of probability from a psychological process perspective. The section covers the following. (1) A critical realist perspective on decisions involving risk and uncertainty, (2) format dependent probabilities and additivity neglect,(3) information acquisition patterns in risky choice framing, (4) biased judgments of asset cumulation and investment decisions, (5) the confidence-frequency effect: a heuristic explanation, and (6) belief in others' trustworthiness and trusting behavior.

Place, publisher, year, edition, pages
Wroclaw: Polska Akademia Nauk , 2014. Vol. 45, no 1, 1-2 p.
Keyword [en]
decision making, mental processes, probability
National Category
Research subject
URN: urn:nbn:se:su:diva-108573DOI: 10.2478/ppb-2014-0001OAI: diva2:759423
Available from: 2014-10-29 Created: 2014-10-29 Last updated: 2014-11-10Bibliographically approved

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Svenson, Ola
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