Is the unconscious, if it exists, a superior decision maker?

Huizenga, Hilde M.; Duijvenvoorde, Anna C. K. van; Ravenzwaaij, Don van; Wetzels, Ruud; Jansen, Brenda R.J.

doi:10.1017/s0140525x13000769

Cited by 2 publications

(2 citation statements)

References 20 publications

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“…Many experiments have been carried out to assess whether subconscious based decisions are inferior to combined subconscious-conscious decisions (OII). Many commentators have reported on this work including Nieuwenstein et al [ 136 ], Newell and Shanks [ 19 ], Huizenga et al [ 137 ], Bargh [ 138 ], and Glöckner and Witteman [ 8 ]. Overall, the general conclusion is that it is unclear whether a particular approach is superior.…”

Section: Discussionmentioning

confidence: 99%

Assessing the Core Variables of Business Managers’ Intuitive Decision Ability: A Review and Analysis

Nuthall

2022

Behavioral Sciences

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Business decisions are frequently based on informed intuition in contrast to a formal analysis. Early man used simple intuition, but through time knowledge increases allowed decision makers (DMs) to move to ‘objectively informed intuition’ (OII). This uses inherent and learnt cognition at both unconscious and conscious levels. A model of business OII is proposed and evaluated using as variables the managers’ personal characteristics and their unique set of objectives. The resultant equation allows assessing decision quality and provides a framework for DMs to work on improvements relative to their objectives. The literature suggests OII stems from a DM’s makeup (business related phenotype), training and experience in a dynamic trio leading to the defining equation. Analyses show business related phenotype is the most important determinant as well as confirming the proposed theory on the determinants of OII success. Practical methods of improving OII are reviewed, and issues worth further investigation outlined. This research is the first encompassing quantitative relationships explaining business OII quality thus enabling improving OII. Suggested further research may refine the equation and expand its core base. This work involves a range of disciplines as different aspects of human characteristics impact on how decisions are made.

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Section: Discussionmentioning

confidence: 99%

Assessing the Core Variables of Business Managers’ Intuitive Decision Ability: A Review and Analysis

Nuthall

2022

Behavioral Sciences

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“…Before we provide a lexicographic account of the framing effect, it should be acknowledged that this theory is not without criticism. First, it has been argued, in the decision making as well as in the developmental literature, that data often do not offer the possibility to distinguish between lexicographic and other decision strategies (Huizenga et al, 2014; Johnson et al, 2008; Wilkening & Anderson, 1982). Therefore, it is important to design experimental tasks offering the possibility to delineate strategies (Rieskamp, 2008).…”

Section: Theoretical Analysismentioning

confidence: 99%

Formal models of differential framing effects in decision making under risk.

Huizenga¹,

Zadelaar²,

Jansen³

et al. 2023

Decision

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An intriguing finding in the decision-making literature is that, when people have to choose between sure and risky options of equal expected value, they typically take more risks when decisions are framed as losses instead of gains (Tversky & Kahneman, 1981). This framing effect is robust and has important implications for health, finance, and politics. However, theoretical debate exists on the origins of this effect. Moreover, pronounced task-related, individual, and developmental differences exist in the magnitude of the effect. These two issues-theoretical debate and differential framing effectscan be solved together, as an adequate theory of the framing effect should both describe the effect itself and describe differences therein. Therefore, we compare four theories on their capacity to describe differential framing effects: cumulative prospect theory (CPT), fuzzy trace theory (FTT), dual process theory, and a hybrid theory (HT) incorporating elements from lexicographic theory and fuzzy trace theory. First, in a theoretical analysis and empirical review, we build on recent advances in the fields of decision making, brainbehavior relationships, and cognitive development. Second, in an empirical study, we directly compare these theories by using a new experimental task and new analytic approach in which we use hierarchical Bayesian model-based mixture analysis of theories. Taken together, results indicate that differential framing effects are best described by the notion that the majority of decision makers decide according to the hybrid theory, and a sizable minority according to cumulative prospect theory and fuzzy trace theory. We discuss implications of these results for our understanding of the framing effect, and for decision making in general.

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Is the unconscious, if it exists, a superior decision maker?

Cited by 2 publications

References 20 publications

Assessing the Core Variables of Business Managers’ Intuitive Decision Ability: A Review and Analysis

Assessing the Core Variables of Business Managers’ Intuitive Decision Ability: A Review and Analysis

Formal models of differential framing effects in decision making under risk.

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