IDEAS home Printed from https://ideas.repec.org/p/gre/wpaper/2016-23.html
   My bibliography  Save this paper

A Dual Process in Memory: How to Make an Evaluation from Complex and Complete Information? An Experimental Study

Author

Listed:
  • Ismaël Rafaï

    (Université Côte d'Azur, France
    GREDEG CNRS)

  • Sébastien Duchêne

    (Université Côte d'Azur, France
    GREDEG CNRS)

  • Eric Guerci

    (Université Côte d'Azur, France
    GREDEG CNRS)

  • Ariane Lambert-Mogiliansky

    (Paris School of Economics)

  • Fabien Mathy

    (Université Côte d'Azur
    BCL CNRS)

Abstract

In this paper, we will put forward an original experiment to reveal empirical "anomalies" in the process of acquisition, elaboration and retrieval of information in the context of reading economic related content. Our results support the existence of the memory dual process suggested in the Fuzzy Trace Theory: acquisition of information leads to the formation of a gist representation which may be incompatible with the exact verbatim information stored in memory. We give to subjects complex and complete information and evaluate their cognitive ability. To answer some specific questions, individuals used this gist representation rather than processing verbatim information appropriately.

Suggested Citation

  • Ismaël Rafaï & Sébastien Duchêne & Eric Guerci & Ariane Lambert-Mogiliansky & Fabien Mathy, 2016. "A Dual Process in Memory: How to Make an Evaluation from Complex and Complete Information? An Experimental Study," GREDEG Working Papers 2016-23, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France, revised Jan 2018.
    • Handle: RePEc:gre:wpaper:2016-23
    as

    Download full text from publisher

    File URL: http://195.220.198.217/GREDEG-WP-2016-23.pdf
    File Function: Revised version, 2018-01
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Ben Greiner, 2015. "Subject pool recruitment procedures: organizing experiments with ORSEE," Journal of the Economic Science Association, Springer;Economic Science Association, vol. 1(1), pages 114-125, July.
    2. Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer;Economic Science Association, vol. 10(2), pages 171-178, June.
    3. Khrennikov, Andrei, 2015. "Quantum version of Aumann’s approach to common knowledge: Sufficient conditions of impossibility to agree on disagree," Journal of Mathematical Economics, Elsevier, vol. 60(C), pages 89-104.
    4. Shane Frederick, 2005. "Cognitive Reflection and Decision Making," Journal of Economic Perspectives, American Economic Association, vol. 19(4), pages 25-42, Fall.
    5. repec:cup:judgdm:v:7:y:2012:i:3:p:332-359 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. David J. Cooper & Krista Saral & Marie Claire Villeval, 2021. "Why Join a Team?," Management Science, INFORMS, vol. 67(11), pages 6980-6997, November.
    2. Zakaria Babutsidze & Nobuyuki Hanaki & Adam Zylbersztejn, 2019. "Digital Communication and Swift Trust," Post-Print halshs-02409314, HAL.
    3. Zakaria Babutsidze & Nobuyuki Hanaki & Adam Zylbersztejn, 2021. "Nonverbal content and trust: An experiment on digital communication," Economic Inquiry, Western Economic Association International, vol. 59(4), pages 1517-1532, October.
    4. Gaudeul, Alexia & Keser, Claudia & Müller, Stephan, 2021. "The evolution of morals under indirect reciprocity," Games and Economic Behavior, Elsevier, vol. 126(C), pages 251-277.
    5. Lorko, Matej & Servátka, Maroš & Zhang, Le, 2023. "Hidden inefficiency: Strategic inflation of project schedules," Journal of Economic Behavior & Organization, Elsevier, vol. 206(C), pages 313-326.
    6. Andreas C Drichoutis & Rodolfo M Nayga, 2020. "Economic Rationality under Cognitive Load," The Economic Journal, Royal Economic Society, vol. 130(632), pages 2382-2409.
    7. Lohse, Tim & Simon, Sven A. & Konrad, Kai A., 2018. "Deception under time pressure: Conscious decision or a problem of awareness?," Journal of Economic Behavior & Organization, Elsevier, vol. 146(C), pages 31-42.
    8. Debapriya Jojo Paul & Julia Henker & Sian Owen, 2019. "The aggregate impacts of tournament incentives in experimental asset markets," Experimental Economics, Springer;Economic Science Association, vol. 22(2), pages 441-476, June.
    9. Cason, Timothy N. & Mui, Vai-Lam, 2019. "Individual versus group choices of repeated game strategies: A strategy method approach," Games and Economic Behavior, Elsevier, vol. 114(C), pages 128-145.
    10. Arne Lauber & Christoph March & Marco Sahm, 2022. "Optimal and Fair Prizing in Sequential Round-Robin Tournaments: Experimental Evidence," CESifo Working Paper Series 9651, CESifo.
    11. repec:hal:spmain:info:hdl:2441/3r19808hvq8dlb97k36cbcqihj is not listed on IDEAS
    12. Grandjean, Gilles & Lefebvre, Mathieu & Mantovani, Marco, 2022. "Preferences and strategic behavior in public goods games," Journal of Economic Behavior & Organization, Elsevier, vol. 195(C), pages 171-185.
    13. Antonia Grohmann & Jana Hamdan, 2021. "The Effect of Self-Control and Financial Literacy on Impulse Borrowing: Experimental Evidence," Discussion Papers of DIW Berlin 1950, DIW Berlin, German Institute for Economic Research.
    14. Florian Engl & Arno Riedl & Roberto Weber, 2021. "Spillover Effects of Institutions on Cooperative Behavior, Preferences, and Beliefs," American Economic Journal: Microeconomics, American Economic Association, vol. 13(4), pages 261-299, November.
    15. Zylbersztejn, Adam & Babutsidze, Zakaria & Hanaki, Nobuyuki, 2020. "Preferences for observable information in a strategic setting: An experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 170(C), pages 268-285.
    16. Sheth, Jesal D., 2021. "Disclosure of information under competition: An experimental study," Games and Economic Behavior, Elsevier, vol. 129(C), pages 158-180.
    17. Cary Deck & Maroš Servátka & Steven Tucker, 2020. "Designing Call Auction Institutions to Eliminate Price Bubbles: Is English Dutch the Best?," American Economic Review: Insights, American Economic Association, vol. 2(2), pages 225-236, June.
    18. Tamás Csermely & Alexander Rabas, 2016. "How to reveal people’s preferences: Comparing time consistency and predictive power of multiple price list risk elicitation methods," Journal of Risk and Uncertainty, Springer, vol. 53(2), pages 107-136, December.
    19. Lohse, Tim & Simon, Sven A., 2021. "Compliance in teams – Implications of joint decisions and shared consequences," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 94(C).
    20. Carlos Alós-Ferrer & Johannes Buckenmaier, 2021. "Cognitive sophistication and deliberation times," Experimental Economics, Springer;Economic Science Association, vol. 24(2), pages 558-592, June.
    21. Michalis Drouvelis & Johannes Lohse, 2020. "Cognitive abilities and risk taking: the role of preferences," Discussion Papers 20-02, Department of Economics, University of Birmingham.

    More about this item

    Keywords

    Fuzzy Trace Theory; Memory; Dual Process; Cognitive reflection test; Bounded rationality;
    All these keywords.

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gre:wpaper:2016-23. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Patrice Bougette (email available below). General contact details of provider: https://edirc.repec.org/data/credcfr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.