Studies of Psychology and Behavior

Studies of Psychology and Behavior >

2022 , Vol. 20 >Issue 1: 29 - 36

DOI: https://doi.org/10.12139/j.1672-0628.2022.01.005

The Impact of Description-Experience Conflict on Individual Risky Decision-Making: Decision Model Fitting

  • ZHOU Guangfang ,
  • WEI Zihan ,
  • OUYANG Liangyuan ,
  • NGURE Mary Muthoni ,
  • WANG Xiaozhuang
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  • 1. Key Research Base of Humanities and Social Sciences of the Ministry of Education, Academy of Psychology and Behavior, Tianjin Normal University, Tianjin 300387;
    2. Faculty of Psychology, Tianjin Normal University, Tianjin 300387;
    3. Tianjin Social Science Laboratory of Students’ Mental Development and Learning, Tianjin 300387;
    4. Tianjin Vocational College of Mechanics and Electricity, Tianjin 300350

Received date: 2021-07-12

  Online published: 2022-01-20

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Abstract

This study used the description-experience conflict paradigm to investigate the influence of description-experience inconsistency on individual risk choices in gain and loss situations, and explore its internal mechanism through decision model fitting. Both Study 1a and Study 1b adopted a single-factor between-subjects design. The independent variable was the degree of inconsistency between description and experience, and the dependent variable was the proportion of risky choices (R-rate). Results showed that in gain situations, the R-rate was not significantly influenced by degree of inconsistency between description and experience; while in the loss situations, the R-rate was significantly influenced. Study 2 found that the description’s weight parameter (ξ) in the gain situations was significantly smaller than that in the loss situations; while the recency parameter (?) was significantly larger than that in the loss situations. Therefore, under the condition of description-experience inconsistency, the individuals in loss situations were more inclined to make decisions based on the descriptive information than those in the gain situations.

Key words： gain and loss situation; decision from description; decision from experience; decision model

Cite this article

ZHOU Guangfang , WEI Zihan , OUYANG Liangyuan , NGURE Mary Muthoni , WANG Xiaozhuang . The Impact of Description-Experience Conflict on Individual Risky Decision-Making: Decision Model Fitting[J]. Studies of Psychology and Behavior, 2022 , 20(1) : 29 -36 . DOI: 10.12139/j.1672-0628.2022.01.005

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