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

Reason and Intuition01:37

Reason and Intuition

6.9K
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...
6.9K
Information Processing Approach01:30

Information Processing Approach

166
The information-processing theory of cognitive development centers on fundamental mental processes, including attention, memory, and problem-solving skills. Researchers in this field examine how cognitive abilities, such as working memory, evolve and influence children's overall development. Studies indicate that children with stronger working memory tend to excel in reading comprehension, math, and problem-solving compared to peers with less efficient memory skills. Low working memory is...
166
Decision Making01:20

Decision Making

241
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...
241
Decision Making: P-value Method01:09

Decision Making: P-value Method

5.7K
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...
5.7K
Decision Making: Traditional Method01:14

Decision Making: Traditional Method

4.2K
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...
4.2K
The Availability Heuristic01:08

The Availability Heuristic

6.4K
A heuristic is a general problem-solving framework (Tversky & Kahneman, 1974). You can think of these as mental shortcuts that are used to solve problems. Different types of heuristics are used in different types of situations, and the impulse to use a heuristic occurs when one of five conditions is met (Pratkanis, 1989):
6.4K

You might also read

Related Articles

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

Sort by
Same author

Choice-induced preference change under a sequential sampling model framework.

Scientific reports·2026
Same author

Decision makers consider all options in choice triplets.

PloS one·2025
Same author

Risky decisions are influenced by individual attributes as a function of risk preference.

Cognitive psychology·2023
Same author

Evidence or Confidence: What Is Really Monitored during a Decision?

Psychonomic bulletin & review·2023
Same author

Value certainty and choice confidence are multidimensional constructs that guide decision-making.

Cognitive, affective & behavioral neuroscience·2023
Same author

Value certainty in drift-diffusion models of preferential choice.

Psychological review·2021

Related Experiment Video

Updated: Sep 16, 2025

The Adventures of Fundi Intervention Based on the Cognitive and Emotional Processing in Attention Deficit Hyperactive Disorder Patients
05:48

The Adventures of Fundi Intervention Based on the Cognitive and Emotional Processing in Attention Deficit Hyperactive Disorder Patients

Published on: June 12, 2020

5.9K

A supply and demand approach to information processing in decision-making.

Douglas G Lee1

  • 1University College Dublin, School of Electrical and Electronic Engineering, Belfield, Dublin D04 C1P1, Ireland.

Acta Psychologica
|July 4, 2025
PubMed
Summary

Decision-making involves both value estimates and certainty. This study reveals that familiarity with options increases certainty and value revision, while initial certainty decreases them, supporting a supply and demand model.

Keywords:
AccessibilityAvailabilityFamiliarityUncertaintyValue refinement

More Related Videos

An Automated T-maze Based Apparatus and Protocol for Analyzing Delay- and Effort-based Decision Making in Free Moving Rodents
07:42

An Automated T-maze Based Apparatus and Protocol for Analyzing Delay- and Effort-based Decision Making in Free Moving Rodents

Published on: August 2, 2018

13.8K
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

9.1K

Related Experiment Videos

Last Updated: Sep 16, 2025

The Adventures of Fundi Intervention Based on the Cognitive and Emotional Processing in Attention Deficit Hyperactive Disorder Patients
05:48

The Adventures of Fundi Intervention Based on the Cognitive and Emotional Processing in Attention Deficit Hyperactive Disorder Patients

Published on: June 12, 2020

5.9K
An Automated T-maze Based Apparatus and Protocol for Analyzing Delay- and Effort-based Decision Making in Free Moving Rodents
07:42

An Automated T-maze Based Apparatus and Protocol for Analyzing Delay- and Effort-based Decision Making in Free Moving Rodents

Published on: August 2, 2018

13.8K
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

9.1K

Area of Science:

  • Cognitive psychology
  • Neuroscience
  • Behavioral economics

Background:

  • Value-based decisions are influenced by subjective value estimates and certainty about those estimates.
  • Theories suggest information processing reduces uncertainty before choices, refining value estimates.
  • Familiarity's role in modulating certainty gain and value revision during decision-making is underexplored.

Purpose of the Study:

  • To investigate how the familiarity of choice options affects certainty gain and value revision during decision-making.
  • To test a supply and demand framework for understanding information processing in choices.

Main Methods:

  • Examined decision-making processes where options varied in familiarity.
  • Analyzed how initial certainty and option familiarity influenced changes in value estimates and certainty post-choice.

Main Results:

  • Certainty gain and value revision decreased as initial certainty increased (demand effect).
  • Certainty gain and value revision increased with greater option familiarity (supply effect).

Conclusions:

  • Familiarity acts as a 'supply' of information, facilitating certainty gain and value revision.
  • Initial certainty acts as a 'demand' for information, limiting these processes.
  • Results support a supply and demand model for information processing during decision-making.