2017
DOI: 10.1002/bdm.2061
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On Judgments of Approximately Equal

Abstract: Although precision is often important in quantitative judgment, sometimes, it is valuable to recognize that two quantities are roughly the same. Fuzzy-trace theory suggests that approximately equal judgments rely on gist representations (i.e., meaningful fuzzy categories of quantity). We conducted three experiments to investigate approximately equal judgments with number pairs presented in different formats, both with and without semantic content (breast cancer statistics). In each study, the ratio of the smal… Show more

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Cited by 5 publications
(7 citation statements)
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“…This is not just a question of psychophysics. 52 Most decision theories assume expectancy-value tradeoffs. These theories treat options differing categorically or differing in degree the same way mathematically, as tradeoffs between gradations of probabilities and outcome magnitudes, but FTT does not.…”
Section: Trading Offmentioning
confidence: 99%
“…This is not just a question of psychophysics. 52 Most decision theories assume expectancy-value tradeoffs. These theories treat options differing categorically or differing in degree the same way mathematically, as tradeoffs between gradations of probabilities and outcome magnitudes, but FTT does not.…”
Section: Trading Offmentioning
confidence: 99%
“…Qualitatively different outcomes are not just the result of arbitrary binning of quantities; instead, they are meaningfully different categories. Ordinal gist reflects “fuzzy, inexact numerical judgments” (Szkudlarek & Brannon, 2017, p. 12) that involve approximate comparisons of outcome magnitudes, such as more versus less (Wolfe, Reyna, & Smith, 2018). Verbatim representations are precise representations of presented numbers.…”
Section: Background: Representations and Decision Making In Fuzzy‐tramentioning
confidence: 99%
“…Categorical gist represents outcomes according to qualitative distinctions, for instance, "some quantity" versus "none"; "good" versus "bad." Ordinal gist involves approximate comparisons of outcome magnitudes, such as "more" versus "less" (Wolfe, Reyna & Smith, 2018). The theory proposes that adults rely on the simplest gist when processing information, beginning with the lowest level of gist (categorical), and recruit higher (more precise) levels for decision making only if the lower levels do not provide sufficient discrimination between the options (Reyna, Wilhelms, Mccormick & Weldon, 2016).…”
Section: Prospect Theory and Fuzzy-trace Theorymentioning
confidence: 99%