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The effect of cognitive load on economic decision-making: a replication attempt

Author

Listed:
  • Ball, Sheryl
  • Katz, Benjamin
  • Li, Flora
  • Smith, Alec

Abstract

When cognitive load exceeds cognitive capacity, individuals may make poorer decisions, especially when substantial deliberation is required. Deck and Jahedi’s (2015) influential work on cognitive load found that individuals whose arithmetic performance is most impacted by high cognitive load become more risk averse, less patient and more subject to the anchoring effect. Since results of cognitive load manipulation studies are mixed, replication of influential studies is essential to strengthen our understanding of the effects of cognitive load. In this paper, we attempt to closely replicate Experiment 1 in Deck and Jahedi (2015). Though we observe similar effects of cognitive load on arithmetic performance, we fail to replicate their overall results on risky choice and impatience. While we are unable to clearly identify the reasons for this non-replication, the evidence points to subtle differences in the allocation of attention and effort across subject pools.

Suggested Citation

  • Ball, Sheryl & Katz, Benjamin & Li, Flora & Smith, Alec, 2023. "The effect of cognitive load on economic decision-making: a replication attempt," Journal of Economic Behavior & Organization, Elsevier, vol. 210(C), pages 226-242.
    • Handle: RePEc:eee:jeborg:v:210:y:2023:i:c:p:226-242
    DOI: 10.1016/j.jebo.2023.03.018
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    References listed on IDEAS

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