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- W4353020453 abstract "Feedback on human choices is important because it can affect risk-taking and rationality in subsequent decisions. In daily life, choices are not always followed by immediate outcomes nor are they always followed by simple, single-dimensional feedback. Here, we seek to extend previous studies on the effects of feedback on subsequent risk-taking in three experiments.We examine whether (1) the effect of feedback immediacy on participants' risk-taking exists in tasks containing explicit probabilistic outcome values; (2) increasing feedback dimensionality from one dimension (only about the outcome) to include a second dimension (also about the rationality of prior choices) increases feedback effects on risk-taking; and (3) cognitive reflection ability moderates feedback effects on risk-taking.Results showed that feedback reduced risk-taking in tasks containing explicit probabilistic outcomes (Studies 1 and 2). They further showed that two-dimensional feedback produces a stronger reduction in risk-taking compared to single-dimensional feedback (Study 3). Lastly, results suggested that cognitive reflection ability moderates the effects of feedback on risk-taking (Study 4).Taken together, the findings extended the understanding of risk-taking and mitigating mechanisms and pave the way for intervention studies aimed at changing risky behaviors." @default.
- W4353020453 created "2023-03-23" @default.
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- W4353020453 date "2023-03-22" @default.
- W4353020453 modified "2023-10-18" @default.
- W4353020453 title "Risk aversion in risk‐taking tasks: Combined effects of feedback attributes and cognitive reflection ability" @default.
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- W4353020453 doi "https://doi.org/10.1002/brb3.2957" @default.
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