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Symbolic-Number Mapping in Judgments and Decisions: A Correlational and Experimental Approach

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2015, Doctor of Philosophy, Ohio State University, Psychology.
Research on the psychology of judgment and decision making has focused considerable attention on how individuals value options, construct preferences, and make decisions. The decision-making process is often conceptualized in accordance with a value function (i.e., a usually concave relationship between the amount of a good and an individual’s subjective value for that amount). A basic tenet of economic and psychological models of judgment and choice is diminishing marginal value, which assumes that individuals derive less marginal value from greater quantities of a good (e.g., individuals value their 1st dollar more than their 100th dollar). In this dissertation, I further the argument that the processing of symbolic numbers is subjective, and that differences in how individuals process numbers might then underlie differences in how they make judgments and decisions when numbers are involved. In Chapter 1, I review the numerical-cognition literature, which suggests that symbolic numbers are perceived in a subjective fashion and individuals differ in how they process symbolic numbers. Chapter 2 provides evidence that differences in symbolic-number mapping predict individuals’ valuations in riskless and risky judgments; it also discusses implications for conceptualizations of value, risk aversion, and intertemporal choice. Whereas Chapter 2 focuses on individual differences in how individuals process symbolic numbers, Chapter 3 demonstrates that factors in the decision environment (i.e., time pressure and information-presentation formats for prices) can alter how individuals process symbolic numbers. Chapter 3 provides experimental evidence for hypotheses put forth in this dissertation. Chapter 3 more directly argues that value is jointly determined by: 1) subjective perceptions of symbolic numbers and 2) valuations based on these subjective perceptions. Building on this idea, Chapter 3 attempts to reconceptualize the nature of value and the construction of preference by suggesting that the value-construction process can be altered either by changing how individuals value goods and/or by changing how they process symbolic numbers. Chapter 4 provides a general discussion regarding the measures and relevant constructs in this dissertation, as well as a general conclusion.
Ellen Peters (Committee Chair)
Michael DeKay (Committee Member)
Robert Cudeck (Committee Member)
162 p.

Recommended Citations

Citations

  • Schley, D. R. (2015). Symbolic-Number Mapping in Judgments and Decisions: A Correlational and Experimental Approach [Doctoral dissertation, Ohio State University]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=osu1448802342

    APA Style (7th edition)

  • Schley, Dan. Symbolic-Number Mapping in Judgments and Decisions: A Correlational and Experimental Approach. 2015. Ohio State University, Doctoral dissertation. OhioLINK Electronic Theses and Dissertations Center, http://rave.ohiolink.edu/etdc/view?acc_num=osu1448802342.

    MLA Style (8th edition)

  • Schley, Dan. "Symbolic-Number Mapping in Judgments and Decisions: A Correlational and Experimental Approach." Doctoral dissertation, Ohio State University, 2015. http://rave.ohiolink.edu/etdc/view?acc_num=osu1448802342

    Chicago Manual of Style (17th edition)