Del Missier, F, Mäntylä, T, Hansson, P et al. (3 more authors) (2013) The multifold relationship between memory and decision making: An individual-differences study. Journal of Experimental Psychology: Learning Memory and Cognition, 39 (5). pp. 1344-1364. ISSN 0022-1015
Abstract
Several judgment and decision-making tasks are assumed to involve memory functions, but significant knowledge gaps on the memory processes underlying these tasks remain. In a study on 568 adults between 25 and 80 years of age, hypotheses were tested on the specific relationships between individual differences in working memory, episodic memory, and semantic memory, respectively, and 6 main components of decision-making competence. In line with the hypotheses, working memory was positively related with the more cognitively demanding tasks (Resistance to Framing, Applying Decision Rules, and Under/Overconfidence), whereas episodic memory was positively associated with a more experience-based judgment task (Recognizing Social Norms). Furthermore, semantic memory was positively related with 2 more knowledge-based decision-making tasks (Consistency in Risk Perception and Resistance to Sunk Costs). Finally, the age-related decline observed in some of the decision-making tasks was (partially or totally) mediated by the age-related decline in working memory or episodic memory. These findings are discussed in relation to the functional roles fulfilled by different memory processes in judgment and decision-making tasks.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2013 American Psychological Association. This is an author produced version of a paper published in Journal of Experimental Psychology: Learning, Memory, and Cognition. This article may not exactly replicate the final version published in the APA journal. It is not the copy of record. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | judgment and decision making; decision-making competence; working memory; cognitive aging; individual differences |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 10 Aug 2016 08:48 |
Last Modified: | 20 Jan 2018 19:01 |
Published Version: | http://dx.doi.org/10.1037/a0032379 |
Status: | Published |
Publisher: | American Psychological Association |
Identification Number: | 10.1037/a0032379 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:85905 |