Diagnostic Task Selection for Strategy Classification in Judgment and Decision Making: Theory, Validation, and Implementation in R
Journal Title: Judgment and Decision Making - Year 2011, Vol 6, Issue 8
Abstract
One major statistical and methodological challenge in Judgment and Decision Making research is the reliable identification of individual decision strategies by selection of diagnostic tasks, that is, tasks for which predictions of the strategies differ sufficiently. The more strategies are considered, and the larger the number of dependent measures simultaneously taken into account in strategy classification (e.g., choices, decision time, confidence ratings; Glöckner, 2009), the more complex the selection of the most diagnostic tasks becomes. We suggest the Euclidian Diagnostic Task Selection (EDTS) method as a standardized solution for the problem. According to EDTS, experimental tasks are selected that maximize the average difference between strategy predictions for any multidimensional prediction space. In a comprehensive model recovery simulation, we evaluate and quantify the influence of diagnostic task selection on identification rates in strategy classification. Strategy classification with EDTS shows superior performance in comparison to less diagnostic task selection algorithms such as representative sampling. The advantage of EDTS is particularly large if only few dependent measures are considered. We also provide an easy-to-use function in the free software package R that allows generating predictions for the most commonly considered strategies for a specified set of tasks and evaluating the diagnosticity of those tasks via EDTS; thus, to apply EDTS, no prior programming knowledge is necessary.
Authors and Affiliations
Marc Jekel, Susann Fiedler and Andreas Glöckner
Keywords
Related Articles
- EP ID EP677862
- DOI -
- Views 142
- Downloads 0
Studies of the dimensionality, correlates, and meaning of measures of the maximizing tendency
This series of four studies was designed to clarify the underlying dimensionality and psychological well-being correlates of the major extant measures of the maximization tendency: the Maximization Scale (MS; Schwarz et...
Validation of the Adult Decision-Making Competence in Slovak students
A study using a high school and college sample (age 18–26) was conducted to validate the Slovak version of the Adult Decision-Making Competence. The results were similar to findings reported by Bruine de Bruin, Parker, a...
Recognition-based judgments and decisions: What we have learned (so far)
This special issue on recognition processes in inferential decision making represents an adversarial collaboration among the three guest editors. This introductory article to the special issue’s third and final part come...
The impact of near-miss events on betting behavior: An examination of casino rapid roulette play
We examine how almost winning in roulette affects subsequent betting behavior. Our main finding is heterogeneity in gambler behavior with some gamblers less likely to bet on numbers that were near misses on the prior spi...
Direct and indirect effects of pathological gambling on risk attitudes
We study individual decision making in a lottery-choice task performed by three different populations: gamblers under psychological treatment (äddicts"), gamblers' spouses ("victims"), and people who are neither gamblers...