Evaluations are inherently comparative, but are compared to what?

Area of Science:

• Cognitive Psychology
• Behavioral Economics
• Decision Science

Background:

• Understanding the translation of objective quantities to subjective evaluations is crucial for various fields.
• The decision by sampling theory suggests values are interpreted based on a comparison set (decision sample).
• The precise composition of this decision sample remains an open question.

Purpose of the Study:

• To identify and test mechanistic accounts of how previously encountered values form the decision sample.
• To determine the criteria for values entering the decision sample and influencing subsequent judgments.
• To advance the understanding of comparison standards in decision-making.

Main Methods:

• Proposed four distinct mechanistic accounts for decision sample formation.
• Empirically tested these accounts using studies on loss aversion, delay discounting, and vaccine hesitancy.
• Analyzed how subjective evaluation versus mere encounter influences value inclusion in the decision sample.

Main Results:

• Found strongest support for the account that quantities must be subjectively evaluated to enter the decision sample.
• Subjectively evaluated quantities alter the interpretation of other values and guide decision-making.
• Mere encounter with a quantity is insufficient for it to influence the decision sample.

Conclusions:

• Subjective evaluation is a key determinant for values to be included in the decision sample.
• This finding refines the understanding of the decision by sampling theory.
• Opens new avenues for research on how comparison standards shape human judgment and behavior.