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Memory reflected in our decisions: Higher working memory capacity predicts greater bias in risky choice

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  • Corbin, Jonathan
  • McElroy, Todd
  • Black, Cassie

Abstract

The current study looks at the role working memory plays in risky-choice framing. Eighty-six participants took the Automatic OSPAN, a measurement of working memory; this was followed by a risky-choice framing task. Participants with high working memory capacities demonstrated well pronounced framing effects, while those with low working memory capacities did not. This pattern suggests that, in a typical risky-choice decision task, elaborative encoding of task information by those with high working memory capacity may lead them to a more biased decision compared to those with low working memory.

Suggested Citation

  • Corbin, Jonathan & McElroy, Todd & Black, Cassie, 2010. "Memory reflected in our decisions: Higher working memory capacity predicts greater bias in risky choice," Judgment and Decision Making, Cambridge University Press, vol. 5(2), pages 110-115, April.
    • Handle: RePEc:cup:judgdm:v:5:y:2010:i:2:p:110-115_4
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