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The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies

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Participants' Utilitarian Choice Is Influenced by Gamble Presentation and Age.

Joseph Teal¹, Petko Kusev¹, Siana Vukadinova²

¹Behavioural Research Group, London South Bank University Business School, London South Bank University, London SE1 0AA, UK.

Behavioral Sciences (Basel, Switzerland)

|July 27, 2024

Summary

Gamble presentation format influences utilitarian choices. Vertical layouts encourage more utilitarian decisions by simplifying attribute comparisons, while older adults take longer to make utilitarian errors.

Keywords:

age gamble presentation money probability risk utilitarian decision-making

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Area of Science:

Behavioral Science
Decision-Making Psychology

Background:

Behavioral science lacks research on how gamble presentation (horizontal vs. vertical) affects utilitarian choices.
Existing evidence suggests attribute comparison (probability, money) influences gamble decisions.

Purpose of the Study:

To investigate the impact of gamble presentation format on utilitarian decision-making.
To examine the moderating role of age in this relationship.

Main Methods:

A two-factor independent measures design was utilized.
Participants' utilitarian decision-making preferences were assessed under different gamble presentation conditions.
Age was analyzed as a factor influencing decision-making speed.

Main Results:

Vertical gamble presentations led to a lower likelihood of choosing non-utilitarian options compared to horizontal presentations.
Utilitarian choices were more frequent with vertical layouts due to easier probability attribute comparison.
Older participants exhibited longer decision times for utilitarian errors, attributed to experience.

Conclusions:

Gamble presentation significantly influences utilitarian behavior through attribute comparison.
Age correlates with decision-making speed, particularly in error scenarios.
Further research is needed on the psychological processing in risky decision-making.