Decision Making Processes and Outcomes

Patrick, Julie Hicks; Steele, Jenessa; Spencer, S. Melinda

doi:10.1155/2013/367208

Cited by 8 publications

(21 citation statements)

References 25 publications

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“…Experience and other knowledge-related abilities can counteract some of the attentional declines that are characteristic of aging and may explain some of the individual differences in cognitive performance. Research on decision-making suggests that there is a role for expertise or experience in determining both strategies used and decisional outcomes (Patrick et al, 2013;Patrick & Strough, 2004;Yoon et al, 2009). Yoon and colleagues (2009) have suggested that older adults use less information when making a decision in a task with which the adult has experience because they are able to draw on previous search strategies in order to make a decision.…”

Section: A Framework For Aging Cognition and Decision-makingmentioning

confidence: 99%

“…Decision making is an important task in everyday life; adults make financial decisions, health decisions (Finucane, Mertz, Slovic, & Schmidt, 2005), and decisions as consumers, such as what car to buy (Mather, Knight, & McCaffrey, 2005;Patrick et al, 2013;Queen et al, 2012).…”

Section: Consumer Decisionsmentioning

confidence: 99%

“…Another way to examine decision making is through the use of consumer-based decisions. Consumer-based decisions ask individuals to make a selection of a product (e.g., a car) for themselves (Mather et al, 2005;Queen et al, 2012) or others (Patrick et al, 2013), given a set of criteria such as lifestyle, budget, etc. That is, they take into account the person and the contextual factors involved in the decision.…”

Section: Consumer Decisionsmentioning

confidence: 99%

“…It is possible to evaluate the decision an individual makes in comparison to an expert group in order to survey the decision quality (Patrick et al, 2013). Because consumer-based tasks take into account a hypothetical individual's need, individuals' selections are determined to be correct or incorrect based on whether or not they matched expert decision rankings (Patrick et al, 2013). In the standard decision-making task, materials are developed to reflect those found outside the lab.…”

Section: Consumer Decisionsmentioning

confidence: 99%

“…Previous research has found a link between cognitive factors and decisional strategies and outcomes (Patrick, Steele, & Spencer, 2013). Affective factors have also been shown to influence both strategies (Isen & Means, 1983) and outcomes (Forgas, 1989;von Helversen & Mata, 2012); however, the research on affective factors is less established.…”

mentioning

confidence: 99%

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Cognitive and Affective Influences on Decision-Making Strategies and Outcomes

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This study examines how factors such as emotion and planning abilities, determine decisionmaking strategies and outcomes. Consumer-based decision tasks are one way for researchers to measure the decision-making process and outcomes of individuals, while bringing an element of reality to the task through the utilization of decisions about everyday items that someone might purchase (e.g., a car, apartment, etc.). Using these types of tasks, researchers can measure the quality of a decision (e.g., did the participant come up with the best solution?), as well as the decision or search strategy. Previous research shows that cognitive factors are important when individuals make decisions (Engle, 2018). Emotional components are also important to consider when addressing decision making in adulthood. Older adults have a better memory for emotionladen content compared to younger adults (Yoon et al., 2009). Older adults also tend to display a bias toward positive information when making decisions (Carstensen et al., 1999). The current study uses emotional variables such as decision importance and task difficulty, as well as measures of cognitive functioning, such as the digit symbol substitution task, to predict decision making quality and strategies in a consumer-based task. While previous research shows that cognitive abilities (Engle, 2018; Patrick et al., 2013) and affective components (Carstensen et al., 1999) are both important for predicting decision-making outcomes, the research regarding affective components is less well established. Results found that those who relied on a particular search strategy were more than twice as likely (OR = 2.34) to be classified as making a good decision in choosing a home. Results from this study have implications for alternate routes of intervention in the decision-making process.

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Section: A Framework For Aging Cognition and Decision-makingmentioning

confidence: 99%