Jove
Visualize
Contact Us
JoVE
x logofacebook logolinkedin logoyoutube logo
ABOUT JoVE
OverviewLeadershipBlogJoVE Help Center
AUTHORS
Publishing ProcessEditorial BoardScope & PoliciesPeer ReviewFAQSubmit
LIBRARIANS
TestimonialsSubscriptionsAccessResourcesLibrary Advisory BoardFAQ
RESEARCH
JoVE JournalMethods CollectionsJoVE Encyclopedia of ExperimentsArchive
EDUCATION
JoVE CoreJoVE BusinessJoVE Science EducationJoVE Lab ManualFaculty Resource CenterFaculty Site
Terms & Conditions of Use
Privacy Policy
Policies

Related Concept Videos

Decision Making: P-value Method01:09

Decision Making: P-value Method

6.4K
The process of hypothesis testing based on the P-value method includes calculating the P- value using the sample data and interpreting it.
First, a specific claim about the population parameter is proposed. The claim is based on the research question and is stated in a simple form. Further, an opposing statement to the claim  is also stated. These statements can act as null and alternative hypotheses:  a null hypothesis would be a neutral statement while the alternative hypothesis can...
6.4K
Confidence Coefficient01:24

Confidence Coefficient

9.8K
The confidence coefficient is also known as the confidence level or degree of confidence. It is the percent expression for the probability, 1-α, that the confidence interval contains the true population parameter assuming that the confidence interval is obtained after sufficient unbiased sampling; for example, if the CL = 90%, then in 90 out of 100 samples the interval estimate will enclose the true population parameter. Here α is the area under the curve, distributed equally under...
9.8K
Reason and Intuition01:37

Reason and Intuition

7.2K
The human brain processes information for decision-making using one of two routes: an intuitive system and a rational system (Epstein, 1994; popularized by Kahneman, 2011 as System 1 and System 2, respectively). The intuitive system is quick, impulsive, and operates with minimal effort, relying on emotions or habits to provide cues for what to do next, while the rational system is logical, analytical, deliberate, and methodical. Research in neuropsychology suggests that the...
7.2K
Decision Making: Traditional Method01:14

Decision Making: Traditional Method

4.9K
The process of hypothesis testing based on the traditional method includes calculating the critical value, testing the value of the test statistic using the sample data, and interpreting these values.
First, a specific claim about the population parameter is decided based on the research question and is stated in a simple form. Further, an opposing statement to this claim is also stated. These statements can act as null and alternative hypotheses, out of which a null hypothesis would be a...
4.9K
Uncertainty: Confidence Intervals00:54

Uncertainty: Confidence Intervals

8.6K
The confidence interval is the range of values around the mean that contains the true mean. It is expressed as a probability percentage. The interpretation of a 95% confidence interval, for instance, is that the statistician is 95% confident that the true mean falls within the interval. The upper and lower limits of this range are known as confidence limits. The confidence limits for the true mean are estimated from the sample's mean, the standard deviation, and the statistical factor...
8.6K
Decision Making01:20

Decision Making

454
Decision-making is a fundamental cognitive process that involves evaluating alternatives and selecting among them. This process can range from simple choices, such as deciding what to wear, to complex decisions, like choosing a major in college or a career path. The complexity of the decision often dictates the approach we use, which can be broadly categorized into two types: automatic and controlled decision-making.
Automatic decision-making is fast, intuitive, and relies on gut feelings...
454

You might also read

Related Articles

Articles linked to this work by shared authors, journal, and citation graph.

Sort by
Same author

Throwing good effort after bad: Evidence for a sunk-cost effect in cognitive effort-based decision-making.

Cognition·2026
Same author

Metacognition and post-decisional processing in clinical decision-making.

Presse medicale (Paris, France : 1983)·2026
Same author

Looking ahead: Sensory horizons and the science of consciousness.

The Behavioral and brain sciences·2026
Same author

Correction: The neural basis of cost-benefit trade-offs in effort investment: a quantitative activation likelihood estimation meta-analysis.

Cognitive, affective & behavioral neuroscience·2026
Same author

A neuronal basis for mental imagery.

Cell research·2026
Same author

The act of detecting a stimulus contaminates measures of conscious experience with decision biases.

Nature communications·2026
Same journal

Mind wandering during first- and foreign-language reading.

Psychonomic bulletin & review·2026
Same journal

Lexical word processing is unaffected by rapid invisible frequency tagging in reading: Evidence from eye movements.

Psychonomic bulletin & review·2026
Same journal

Anxiety modulates voluntary attentional orienting to emotional gaze cues: Eye movements for pro- and anti-saccades.

Psychonomic bulletin & review·2026
Same journal

Faster key-press responses to front vowels than back vowels when matching heard vowels with represented vowels.

Psychonomic bulletin & review·2026
Same journal

Testing the interleaving effect without response bias: A forced-choice reevaluation of Kornell and Bjork (2008).

Psychonomic bulletin & review·2026
Same journal

The impact of social interaction on abstract concepts.

Psychonomic bulletin & review·2026
See all related articles

Related Experiment Video

Updated: Nov 22, 2025

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
13:04

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods

Published on: September 19, 2012

12.3K

Confidence in risky value-based choice.

Kevin da Silva Castanheira1, Stephen M Fleming2, A Ross Otto3

  • 1Department of Psychology, McGill University, Montreal, QC, Canada.

Psychonomic Bulletin & Review
|January 6, 2021
PubMed
Summary
This summary is machine-generated.

Choosing risky options lowers confidence compared to certain ones. Risk also weakens the links between confidence, subjective value, and response time in economic decisions.

Keywords:
ConfidenceDecision makingRiskSubjective value

More Related Videos

Experimental Research Examining How People Can Cope with Uncertainty Through Soft Haptic Sensations
09:07

Experimental Research Examining How People Can Cope with Uncertainty Through Soft Haptic Sensations

Published on: September 16, 2015

9.3K
Errors as a Means of Reducing Impulsive Food Choice
07:07

Errors as a Means of Reducing Impulsive Food Choice

Published on: June 5, 2016

8.9K

Related Experiment Videos

Last Updated: Nov 22, 2025

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
13:04

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods

Published on: September 19, 2012

12.3K
Experimental Research Examining How People Can Cope with Uncertainty Through Soft Haptic Sensations
09:07

Experimental Research Examining How People Can Cope with Uncertainty Through Soft Haptic Sensations

Published on: September 16, 2015

9.3K
Errors as a Means of Reducing Impulsive Food Choice
07:07

Errors as a Means of Reducing Impulsive Food Choice

Published on: June 5, 2016

8.9K

Area of Science:

  • Neuroscience
  • Behavioral Economics
  • Decision Science

Background:

  • Risk perception significantly influences decision-making, often leading to behavior that deviates from pure rationality.
  • Previous research on decision confidence primarily examined perceptual ambiguity or choices made under certainty.
  • The formation of subjective confidence during risky value-based choices remains underexplored.

Purpose of the Study:

  • To investigate how risk (versus certainty) impacts confidence ratings in a calibrated economic choice task.
  • To explore the interplay between confidence, subjective value (SV), and choice response time (RT) under conditions of risk.

Main Methods:

  • A calibrated economic choice task was employed to present participants with both risky and certain options.
  • Choices, subjective value (SV) of chosen options, confidence ratings, and response times (RT) were systematically recorded and analyzed.
  • Statistical analyses examined the effects of risk on confidence and its relationships with SV and RT.

Main Results:

  • Subjective confidence was significantly lower for risky choices compared to certain choices.
  • The presence of risk attenuated the association between confidence and both RT and the difference in subjective value (ΔSV).
  • Risk also weakened the relationship between RT and ΔSV.

Conclusions:

  • Choice under risk systematically influences subjective confidence, reducing it relative to choices made under certainty.
  • Risk alters the established relationships between confidence, subjective value, and response time in value-based decision-making.
  • Findings contribute to understanding confidence formation and risk preferences in economic choices.