Hostname: page-component-89b8bd64d-4ws75 Total loading time: 0 Render date: 2026-05-06T09:12:00.089Z Has data issue: false hasContentIssue false

The combined role of task, child’s age and individual differences in understanding decision processes

Published online by Cambridge University Press:  01 January 2023

Irwin P. Levin
Affiliation:
Department of Psychology, University of Iowa
Elaine A. Bossard
Affiliation:
Department of Psychology, University of Iowa
Gary J. Gaeth*
Affiliation:
Department of Marketing, University of Iowa, Iowa City
Haoyang Yan
Affiliation:
Department of Psychology, University of Iowa
*
Corresponding author: Department of Marketing, University of Iowa, , Iowa City, IA 52242. Email: gary-gaeth@uiowa.edu.
Rights & Permissions [Opens in a new window]

Abstract

It is important to understand the impact of individual differences in decision making from childhood to adulthood. This cohort-based study extends our knowledge by comparing decision making of children across the age range of 8 to 17 years and their parents. Based on prior research and theory focusing on different types of framing effects, we uncover several key differences across ages, including levels of risk taking and sensitivity to expected value differences between risky and riskless choices. Furthermore, we find that measures such as Numeracy and Surgency help explain both age-related and individual differences on our tasks, especially for decisions involving risk. We discuss the role of diverse task measures in understanding how individual difference factors affect different aspects of decision making, including the ability and effort to process numerical information and the ability to suppress affective reactions to stimulus labels.

Information

Type
Research Article
Creative Commons
Creative Common License - CCCreative Common License - BY
The authors license this article under the terms of the Creative Commons Attribution 3.0 License.
Copyright
Copyright © The Authors [2014] This is an Open Access article, distributed under the terms of the Creative Commons Attribution license (http://creativecommons.org/licenses/by/3.0/), which permits unrestricted re-use, distribution, and reproduction in any medium, provided the original work is properly cited.
Figure 0

Table 1: Correlations between Individual difference measures and decision making measures

Figure 1

Figure 1: Risk taking in risky-choice framing.

Figure 2

Figure 2: Attribute framing.

Figure 3

Figure 3: Risk taking in Cups by domain.

Figure 4

Figure 4: a. Sensitivity to expected value (RA−RD) in loss domain.

Supplementary material: File

Levin et al. supplementary material

Levin et al. supplementary material 1
Download Levin et al. supplementary material(File)
File 106.6 KB
Supplementary material: File

Levin et al. supplementary material

Levin et al. supplementary material 2
Download Levin et al. supplementary material(File)
File 32.9 KB
Supplementary material: File

Levin et al. supplementary material

Levin et al. supplementary material 3
Download Levin et al. supplementary material(File)
File 4.1 KB
Supplementary material: File

Levin et al. supplementary material

Levin et al. supplementary material 4
Download Levin et al. supplementary material(File)
File 2.8 KB
Supplementary material: File

Levin et al. supplementary material

Levin et al. supplementary material 5
Download Levin et al. supplementary material(File)
File 2.5 KB