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The Reflection Effect in Memory-Based Decisions

Weilbächer, Regina Agnes and Kraemer, Peter and Gluth, Sebastian. (2020) The Reflection Effect in Memory-Based Decisions. Psychological science. p. 1.

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Official URL: https://edoc.unibas.ch/78956/

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Abstract

Previous research has indicated a bias in memory-based decision-making, with people preferring options that they remember better. However, the cognitive mechanisms underlying this memory bias remain elusive. Here, we propose that choosing poorly remembered options is conceptually similar to choosing options with uncertain outcomes. We predicted that the memory bias would be reduced when options had negative subjective value, analogous to the reflection effect, according to which uncertainty aversion is stronger in gains than in losses. In two preregistered experiments ( N = 36 each), participants made memory-based decisions between appetitive and aversive stimuli. People preferred better-remembered options in the gain domain, but this behavioral pattern reversed in the loss domain. This effect was not related to participants' ambiguity or risk attitudes, as measured in a separate task. Our results increase the understanding of memory-based decision-making and connect this emerging field to well-established research on decisions under uncertainty.
Faculties and Departments:07 Faculty of Psychology > Departement Psychologie > Forschungsbereich Sozial-, Wirtschafts- und Entscheidungspsychologie > Decision Neuroscience (Gluth)
UniBasel Contributors:Weilbächer, Regina Agnes and Kraemer, Peter M and Gluth, Sebastian
Item Type:Article, refereed
Article Subtype:Research Article
Publisher:SAGE
ISSN:0956-7976
e-ISSN:1467-9280
Note:Publication type according to Uni Basel Research Database: Journal article
Language:English
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Last Modified:02 Nov 2020 09:01
Deposited On:02 Nov 2020 09:01

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