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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), University of Nice Sophia Antipolis, revised Jan 2018.
  • Handle: RePEc:gre:wpaper:2016-23
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    File URL: http://www.gredeg.cnrs.fr/working-papers/GREDEG-WP-2016-23.pdf
    File Function: Revised version, 2018-01
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    References listed on IDEAS

    as
    1. Shane Frederick, 2005. "Cognitive Reflection and Decision Making," Journal of Economic Perspectives, American Economic Association, vol. 19(4), pages 25-42, Fall.
    2. 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.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Fuzzy Trace Theory; Memory; Dual Process; Cognitive reflection test; Bounded rationality;

    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

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