2020
DOI: 10.1146/annurev-psych-010419-050747
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Judgment and Decision Making

Abstract: The science of judgment and decision making involves three interrelated forms of research: analysis of the decisions people face, description of their natural responses, and interventions meant to help them do better. After briefly introducing the field's intellectual foundations, we review recent basic research into the three core elements of decision making: judgment, or how people predict the outcomes that will follow possible choices; preference, or how people weigh those outcomes; and choice, or how peopl… Show more

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Cited by 111 publications
(68 citation statements)
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References 140 publications
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“…monetary reward, subjective preferences for goods, performance-related choices in sports, perceptual decisions) and do so while putting fewer constraints on participants’ motor behavior. Likewise, there are a plethora of other factors that may moderate the subjective value of choices in daily behavior, such as the cultural embedding 31 , emotional states 32 , and age 33 . Therefore, we recommend examining these and other potentially moderating factors to test whether our results prove robust and generalizable to other commonplace real-life situations.…”
Section: Discussionmentioning
confidence: 99%
“…monetary reward, subjective preferences for goods, performance-related choices in sports, perceptual decisions) and do so while putting fewer constraints on participants’ motor behavior. Likewise, there are a plethora of other factors that may moderate the subjective value of choices in daily behavior, such as the cultural embedding 31 , emotional states 32 , and age 33 . Therefore, we recommend examining these and other potentially moderating factors to test whether our results prove robust and generalizable to other commonplace real-life situations.…”
Section: Discussionmentioning
confidence: 99%
“…Decision-making is particularly important in adolescents due to its role in making judgments, predicting behavior, and planning goals (Fischhoff & Broomell, 2020). Risk decisions have been found to have foreseeable negative effects (Broniatowski & Reyna, 2018), and are more frequent in adolescent offenders (Poon, 2020).…”
Section: The Present Studymentioning
confidence: 99%
“…My proposed model of global–local incompatibility does not directly model cognition, but instead an incompatibility between the local environment and the true form of the global environment. Environmental characteristics define the judgment task (Dawes, 1993; Einhorn & Hogarth, 1978; Fiedler & Juslin, 2005; Fischhoff & Broomell, 2020; Hammond, Hursch, & Todd, 1964; Hogarth et al, 2015) and can limit the validity of even expert judgment (Broomell & Budescu, 2009; Hogarth, 1978; Shanteau, 1992). The environment defines (a) the amount of noise, (b) the dependencies between observations, and (c) the constraints on locally accessible information sources.…”
Section: Introductionmentioning
confidence: 99%