The Role of Numeracy in Judgment and Decision Making: The Replication of Eleven Effects Across Various Numeracy Scales
The Role of Numeracy in Judgment and Decision Making: The Replication of Eleven Effects Across Various Numeracy Scales
StatusVoR
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Authors
Sobków, Agata
Jurewicz, Kacper
Zaleśkiewicz, Tomasz
Prończuk, Anna
Mondal, Supratik
Badecka, Justyna
Bartkiewicz, Urszula
Bobowiec, Wiktoria
Bochniak, Michał
Chwalibok, Karina
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Date
2025-01-27
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Collabra: Psychology
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1
Volume
11
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1-20
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2025-01-27
Abstract PL
Abstract EN
Numeracy, representing the ability to understand and process information related to probabilities and numbers, is crucial for accurate decision making. This study evaluates the replicability of eleven effects that underscore the pivotal role of numeracy in judgment and decision making, with successful replication defined as a statistically significant effect in the same direction as reported in the original study. Furthermore, the study explores the potential impact of employing diverse objective numeracy measures on the replicability of the tested effects. Additionally, we investigated correlations with various numeric competencies beyond objective numeracy, including subjective numeracy and approximate numeracy. We ran an online study on Polish-speaking Prolific users (N = 209). Six correlational effects were successfully replicated using the same numeracy measures as the original studies (decision rules, financial knowledge, consistency in risk perception, medical risk comprehension, maximizing the expected value, and preference for suboptimal options). Another two correlational effects were replicated using subjective instead of objective numeracy measures (resistance to sunk cost and financial well-being). Findings regarding the role of numeracy as a moderator variable were mixed. Numeracy was not a statistically significant moderator of the strength of the framing effect, the attractiveness ratings of bets, and performance in the diagnostic inference task. Nevertheless, our exploratory analyses revealed that individuals with higher numeracy found the loss bet more attractive compared to the no-loss bet. Additionally, visual aids improved diagnostic inferences among participants with lower objective numeracy. This comprehensive examination provides valuable insights into the multifaceted interplay between numeracy and decision-making processes.
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Keywords PL
Keywords EN
numeracy
replication
decision making
judgment
objective numeracy
replication
decision making
judgment
objective numeracy
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Rola wielorakich zdolności numerycznych we wspieraniu podejmowania decyzji
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17Acquisition Date4.04.2025
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