Individual differences in decision making depend on cognitive abilities, monitoring and control

Journal article

Jackson, Simon A., Kleitman, S., Stankov, Lazar and Howie, Pauline. (2017). Individual differences in decision making depend on cognitive abilities, monitoring and control. Journal of Behavioral Decision Making. 30(2), pp. 209 - 223. https://doi.org/10.1002/bdm.1939
AuthorsJackson, Simon A., Kleitman, S., Stankov, Lazar and Howie, Pauline
Abstract

Decision making is the process by which actions are constructed and initiated. Across many research streams, this can be explained in terms of three broad cognitive processes: cognitive abilities that construct judgements and potential courses of action, and interacting monitoring and control processes that determine when to initiate them as behaviour. The aim of this research was to investigate the generality of individual differences in these processes, and their power to predict patterns of decision behaviour identified in our previous research. Undergraduate participants (N= 364) completed nine tests assessing cognitive abilities, monitoring confidence, control thresholds and various patterns of decision behaviour. The tests differed in their cognitive ability requirements and the nature of the payoffs associated with decisions. Cognitive abilities were a strong predictor of individuals’ decision competence and optimality, while monitoring confidence and control thresholds were strong and unique predictors of their overall decisiveness, and reckless and hesitant errors. These results were strongest when the measures of cognitive abilities and monitoring confidence were derived from tests with the same cognitive requirements as the tests used to derive the decision behaviours and when the control threshold measure was derived from tests with the same decision payoffs as the test used to derive the decision behaviours. This effect was particularly pronounced for control thresholds, highlighting the domain-specific nature of cognitive control processes. These findings demonstrate how cognitive abilities, monitoring output and control thresholds interact with cognitive requirements and context-specific payoffs to drive individual differences in decision-making behaviour.

Year2017
JournalJournal of Behavioral Decision Making
Journal citation30 (2), pp. 209 - 223
PublisherJohn Wiley & Sons Ltd
ISSN0894-3257
Digital Object Identifier (DOI)https://doi.org/10.1002/bdm.1939
Scopus EID2-s2.0-84959053312
Page range209 - 223
Research GroupInstitute for Positive Psychology and Education
Publisher's version
File Access Level
Controlled
Place of publicationUnited Kingdom
EditorsG. Wright
Permalink -

https://acuresearchbank.acu.edu.au/item/85w01/individual-differences-in-decision-making-depend-on-cognitive-abilities-monitoring-and-control

Log in to edit

Restricted files

Publisher's version

  • 107
    total views
  • 0
    total downloads
  • 1
    views this month
  • 0
    downloads this month
These values are for the period from 19th October 2020, when this repository was created.

Export as

Related outputs

General fluid/inductive reasoning battery for a high-ability population
Kyllonen, Patrick, Hartman, Robert, Sprenger, Amber, Weeks, Jonathan, Bertling, Maria, McGrew, Kevin, Kriz, Sarah, Bertling, Jonas, Fife, James and Stankov, Lazar. (2019). General fluid/inductive reasoning battery for a high-ability population. Behavior Research Methods. 51(2), pp. 507 - 522. https://doi.org/10.3758/s13428-018-1098-4
The effects of vignette scoring on reliability and validity of self-reports
Davier, M v., Shin, Hyo-Jeong, Khorramdel, Lale and Stankov, Lazar. (2018). The effects of vignette scoring on reliability and validity of self-reports. Applied Psychological Measurement. 42(4), pp. 291 - 306. https://doi.org/10.1177/0146621617730389
Individual differences within the psychological atlas of the world
Stankov, Lazar. (2016). Individual differences within the psychological atlas of the world. Personality and Individual Differences. 94, pp. 180 - 188. https://doi.org/10.1016/j.paid.2016.01.027
Nastiness, morality and religiosity in 33 nations
Stankov, Lazar and Lee, Jihyun. (2016). Nastiness, morality and religiosity in 33 nations. Personality and Individual Differences. 99, pp. 56 - 66. https://doi.org/10.1016/j.paid.2016.04.069
Major psychological dimensions of cross-cultural differences: Nastiness, social awareness/morality, religiosity and broad conservatism/liberalism
Stankov, Lazar. (2016). Major psychological dimensions of cross-cultural differences: Nastiness, social awareness/morality, religiosity and broad conservatism/liberalism. Learning and Individual Differences. 49, pp. 138 - 150. https://doi.org/10.1016/j.lindif.2016.06.003
Decision pattern analysis as a general framework for studying individual differences in decision making
Jackson, Simon A., Kleitman, Sabina, Stankov, Lazar and Howie, Pauline. (2016). Decision pattern analysis as a general framework for studying individual differences in decision making. Journal of Behavioral Decision Making. 29(4), pp. 392 - 408. https://doi.org/10.1002/bdm.1887
Toward a psychological atlas of the world with mixture modeling
Stankov, Lazar and Lee, Jihyun. (2016). Toward a psychological atlas of the world with mixture modeling. Journal of Cross-Cultural Psychology. 47(2), pp. 249 - 262. https://doi.org/10.1177/0022022115611749
Hans J. Eysenck and Raymond B. Cattell on intelligence and personality
Boyle, Gregory J., Stankov, Lazar, Martin, Nicholas G., Petrides, K. V., Eysenck, Michael W. and Ortet, Generos. (2016). Hans J. Eysenck and Raymond B. Cattell on intelligence and personality. Personality and Individual Differences. 103, pp. 40 - 47. https://doi.org/10.1016/j.paid.2016.04.029
Four GLOBE dimensions of perceived social norms in 33 countries
Stankov, Lazar. (2015). Four GLOBE dimensions of perceived social norms in 33 countries. Learning and Individual Differences: journal of psychology and education. 41, pp. 30 - 42. https://doi.org/10.1016/j.lindif.2015.07.005
Measures of the trait of confidence
Stankov, Lazar, Kleitman, Sabina and Jackson, Simon A.. (2015). Measures of the trait of confidence. In In D. H. Saklofske and G. Matthews (Ed.). Measures of personality and social psychological constructs Elsevier.
Social axioms in 33 countries : Good replicability at the individual but less so at the country level
Stankov, Lazar and Saucier, Gerard. (2015). Social axioms in 33 countries : Good replicability at the individual but less so at the country level. Journal of Cross-Cultural Psychology. 46(2), pp. 296 - 315. https://doi.org/10.1177/0022022114558333
Individual differences in cognitive biases: Evidence against one-factor theory of rationality
Teovanovic, Predrag, Knezevic, Goran and Stankov, Lazar. (2015). Individual differences in cognitive biases: Evidence against one-factor theory of rationality. Intelligence. 50, pp. 75 - 86. https://doi.org/10.1016/j.intell.2015.02.008
Overconfidence across world regions
Stankov, Lazar and Lee, Jihyun. (2014). Overconfidence across world regions. Journal of Cross-Cultural Psychology. 45(5), pp. 821 - 837. https://doi.org/10.1177/0022022114527345
Confidence: The best non-cognitive predictor of academic achievement?
Stankov, Lazar, Morony, Suzanne and Lee, Yim. (2014). Confidence: The best non-cognitive predictor of academic achievement? Educational Psychology. 34(1), pp. 9 - 28. https://doi.org/10.1080/01443410.2013.814194
Two dimensions of psychological country-level differences: Conservatism/Liberalism and Harshness/Softness
Stankov, Lazar, Lee, Jihyun and van de Vijver, Fons J. R.. (2014). Two dimensions of psychological country-level differences: Conservatism/Liberalism and Harshness/Softness. Learning and Individual Differences: journal of psychology and education. 30, pp. 22 - 33. https://doi.org/10.1016/j.lindif.2013.12.001
Quest for the best non-cognitive predictor of academic achievement
Stankov, Lazar and Lee, Jihyun. (2014). Quest for the best non-cognitive predictor of academic achievement. Educational Psychology : An international journal of experimental educational psychology. 34(1), pp. 1 - 8. https://doi.org/10.1080/01443410.2013.858908
Whither metacognition
Stankov, Lazar and Kleitman, S.. (2014). Whither metacognition. Learning and Individual Differences. 29, pp. 120 - 122. https://doi.org/10.1016/j.lindif.2013.06.001
Depression and life satisfaction among European and Confucian adolescents
Stankov, Lazar. (2013). Depression and life satisfaction among European and Confucian adolescents. Psychological Assessment. 25(4), pp. 1220 - 1234. https://doi.org/10.1037/a0033794
Predicting achievement: Confidence vs self-efficacy, anxiety, and self-concept in Confucian and European countries
Morony, Suzanne, Kleitman, Sabina, Lee, Yim Ping and Stankov, Lazar. (2013). Predicting achievement: Confidence vs self-efficacy, anxiety, and self-concept in Confucian and European countries. International Journal of Educational Research. 58, pp. 79 - 96. https://doi.org/10.1016/j.ijer.2012.11.002
Higher-order structure of noncognitive constructs and prediction of PISA 2003 mathematics achievement
Lee, Jihyun and Stankov, Lazar. (2013). Higher-order structure of noncognitive constructs and prediction of PISA 2003 mathematics achievement. Learning and Individual Differences. 26, pp. 119 - 130. https://doi.org/10.1016/j.lindif.2013.05.004
Noncognitive predictors of intelligence and academic achievement : An important role of confidence
Stankov, Lazar. (2013). Noncognitive predictors of intelligence and academic achievement : An important role of confidence. Personality and Individual Differences. https://doi.org/10.1016/j.paid.2013.07.006
Structural extensions of a hierarchical view on human cognitive abilities
Stankov, Lazar. (2012). Structural extensions of a hierarchical view on human cognitive abilities. In In G. J. Boyle, D. H. Saklofske and Gerald Matthews (Ed.). Psychological Assessment pp. 29 - 47 Sage Publications Ltd..
Large-scale online writing assessments: New approaches adopted in the national assessment of educational progress
Lee, Jihyun and Stankov, Lazar. (2012). Large-scale online writing assessments: New approaches adopted in the national assessment of educational progress. In In E. L. Grigorenko, Elisa Mambrino and David D. Preiss (Ed.). Writing a Mosaic of New Perspectives pp. 371 - 384 Psychology Press.
Confidence: a better predictor of academic achievement than self-efficacy, self-concept and anxiety?
Stankov, Lazar, Lee, Jihyun, Luo, W and Hogan, D. (2012). Confidence: a better predictor of academic achievement than self-efficacy, self-concept and anxiety? Learning and Individual Differences: journal of psychology and education. 22(6), pp. 747 - 758. https://doi.org/10.1016/j.lindif.2012.05.013
Contemporary militant extremism: A linguistic approach to scale development
Stankov, Lazar, Higgins, D., Saucier, Gerard and Knezevic, Goran. (2012). Contemporary militant extremism: A linguistic approach to scale development. In In G. J. Boyle, Donald H. Saklofske and G. Matthews (Ed.). Psychological Assessment pp. 41 - 67 SAGE Publications Inc..
Perceptual underconfidence: A conceptual illusion?
Stankov, Lazar, Pallier, G, Danthiir, V and Morony, S. (2012). Perceptual underconfidence: A conceptual illusion? European Journal of Psychological Assessment. 28(3), pp. 190 - 200.
individual, country and societal cluster differences on measures of personality, attitudes, values, and social norms
Stankov, Lazar. (2011). individual, country and societal cluster differences on measures of personality, attitudes, values, and social norms. Learning and Individual Differences: journal of psychology and education. 21(1), pp. 55 - 66. https://doi.org/10.1016/j.lindif.2010.09.002
Unforgiving Confucian culture: A breeding ground for high academic achievement, test anxiety and self-doubt?
Stankov, Lazar. (2010). Unforgiving Confucian culture: A breeding ground for high academic achievement, test anxiety and self-doubt? Learning and Individual Differences. 20(6), pp. 555 - 563. https://doi.org/10.1016/j.lindif.2010.05.003
Contemporary militant extremism: A linguistic approach to scale development
Stankov, Lazar, Higgins, Derrick, Saucier, Gerard and Knežević, Goran. (2010). Contemporary militant extremism: A linguistic approach to scale development. Psychological Assessment. 22(2), pp. 246 - 258. https://doi.org/10.1037/a0017372
Contemporary militant extremism: A linguistic approach to scale development
Stankov, Lazar, Higgins, D., Saucier, G. and Kneszevic, G. (2010). Contemporary militant extremism: A linguistic approach to scale development. Psychological Assessment. 22(2), pp. 246 - 258. https://doi.org/10.1037/a0017372
Militant extremist mind-set: Proviolence, vile world, and divine power
Stankov, Lazar, Saucier, Gerard and Knežević, Goran. (2010). Militant extremist mind-set: Proviolence, vile world, and divine power. Psychological Assessment. 22(1), pp. 70 - 86. https://doi.org/10.1037/a0016925
Large-scale cross-cultural studies of cognitive and noncognitive constructs
Stankov, Lazar. (2009). Large-scale cross-cultural studies of cognitive and noncognitive constructs. Learning and Individual Differences: journal of psychology and education. 19(3), pp. 327 - 329. https://doi.org/10.1016/j.lindif.2009.02.003
Dimensions of cultural differences: Pancultural, ETiC/EMiC, and ecological approaches
Stankov, Lazar and Lee, Joohyung. (2009). Dimensions of cultural differences: Pancultural, ETiC/EMiC, and ecological approaches. Learning and Individual Differences: journal of psychology and education. 19(3), pp. 339 - 354. https://doi.org/10.1016/j.lindif.2008.09.003
Patterns of thinking in militant extremism
Saucier, Gerard, Akers, Laura Geuy, Shen-Miller, Seraphine, Knezevic, Goran and Stankov, Lazar. (2009). Patterns of thinking in militant extremism. Perspectives on Psychological Science. 4, pp. 256 - 271. https://doi.org/10.1111/j.1745-6924.2009.01123.x
Do measures of working memory predict academic proficiency better than measures of intelligence?
Lee, Kerry, Pe, Madeline Lee, Ang, Su Yin and Stankov, Lazar. (2009). Do measures of working memory predict academic proficiency better than measures of intelligence? Psychological Test and Assessment Modeling. 51(4), pp. 403 - 419.
Realism of confidence judgments
Stankov, Lazar, Lee, Jihyun and Paek, Insu. (2009). Realism of confidence judgments. European Journal of Psychological Assessment. 25(2), pp. 123 - 130. https://doi.org/10.1027/1015-5759.25.2.123
Conservatism and cognitive ability
Stankov, Lazar. (2009). Conservatism and cognitive ability. Intelligence. 37(3), pp. 294 - 304. https://doi.org/10.1016/j.intell.2008.12.007
Confidence and cognitive test performance
Stankov, Lazar and Lee, Jihyun. (2008). Confidence and cognitive test performance. Journal of Educational Psychology. 100(4), pp. 961 - 976. https://doi.org/10.1037/a0012546
Extending intelligence: Conclusions and future directions
Roberts, Richard D., Stankov, Lazar, Schulze, Ralf and Kyllonen, Patrick C.. (2008). Extending intelligence: Conclusions and future directions. In In P.C. Kyllonen, R.D. Roberts and L. Stankov (Ed.). Extending intelligence: Enhancement and new constructs pp. 433 - 452 Lawrence Erlbaum Associates inc..
Enhancement and new constructs: Overview and rationale
Kyllonen, Patrick C., Stankov, Lazar and Roberts, Richard D.. (2008). Enhancement and new constructs: Overview and rationale. In In P.C. Kyllonen, R.D. Roberts and L. Stankov (Ed.). Extending intelligence: Enhancement and new constructs pp. 3 - 11 Lawrence Erlbaum Associates inc..
Processes on the borderline between cognitive abilities and personality: Confidence and its realism
Stankov, Lazar and Kleitman, Sabina. (2008). Processes on the borderline between cognitive abilities and personality: Confidence and its realism. In In G.J. Boyle, G. Matthews and D.H. Saklofske (Ed.). The Sage handbook of personality theory and assessment pp. 545 - 559 Sage Publications Ltd..
Culture: Ways of thinking and believing
Stankov, Lazar and Lee, Jihyun. (2008). Culture: Ways of thinking and believing. In In G.J. Boyle, G. Matthews and D.H. Saklofske (Ed.). The Sage handbook of personality theory and assessment pp. 560 - 575 Sage Publications Ltd..