Robust consistency of choice switching in decisions from experience

Research output: Contribution to journalArticlepeer-review

Abstract

Decision making is a multifaceted process but studies of individual differences in decision behavior typically use only the proportions of choices from different options as behavioral indices. I examine whether the probability of choice switching in decisions from experience, reflecting one’s exploration strategy, is consistent across sessions and tasks. In Study 1, I re-analyzed an experiment in which participants performed six decision tasks in two sessions that were 45 days apart. Choice switching rates were highly consistent across sessions and tasks, and their consistency exceeded that of rates of risky choices. In Study 2 I conducted a similar analysis for the Technion Prediction Tournament, and also found higher consistency across tasks in switching rates than in choice rates. Additionally, in both studies, there were moderate to high correlations between switching rates at the beginning and towards the end of the task. The results thus highlight an often overlooked but highly consistent and independent aspect of human behavior.

Original languageEnglish
Pages (from-to)74-81
Number of pages8
JournalJudgment and Decision Making
Volume15
Issue number1
DOIs
StatePublished - Jan 2020

Keywords

  • Decision making
  • Experience
  • Exploration
  • Individual differences

All Science Journal Classification (ASJC) codes

  • General Decision Sciences
  • Economics and Econometrics
  • Applied Psychology

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