The influence of Cognitive load on risk decision making
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2017-08-17
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en
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Abstract
The effect of a cognitive load on the precision of preferences in risk decision making is examined. In an experiment, participants were exposed to a cognitive load creating an interference with our reasoned thinking, which we will call system 2 thinking. This interference could make the decision making of an individual more automated and intuitive, this is called system 1 thinking. It is tested how a cognitive load interferes with this processes and consequently with the precision of preferences. Specifically, the influence on consistency, sureness and risk behavior in risk decision making is examined. Despite initial signals and minor support, the results show insignificant results. However, great support has been found to conclude that there is a positive effect of cognitive ability on consistency in preferences. Keywords: cognitive load, risk decision making, imprecise preferences, system 1 and 2 thinking
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Faculteit der Managementwetenschappen