Memory reflected in our decisions: Higher working memory capacity predicts greater bias in risky choice
Here’s a scary sentence,” Our results have shown that higher cognitive abilities do not always reflect rational decision making.”
Abstract (via Corbin, Elroy, & Black)
The current study looks at the role working memory plays in risky-choice framing. Eighty-six participants took the Automatic OSPAN, a measurement of working memory; this was followed by a risky-choice framing task. Participants with high working memory capacities demonstrated well pronounced framing effects, while those with low working memory capacities did not. This pattern suggests that, in a typical risky-choice decision task, elaborative encoding of task information by those with high working memory capacity may lead them to a more biased decision compared to those with low working memory.