The Role of Numeracy in Judgment and Decision Making: The Replication of Eleven Effects Across Various Numeracy Scales

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cris.lastimport.scopus2025-04-12T03:13:14Z
dc.abstract.enNumeracy, 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.
dc.affiliationCentrum Badań nad Wspieraniem Podejmowania Decyzji (CRIDM)
dc.affiliationWydział Psychologii we Wrocławiu
dc.affiliationInstytut Psychologii
dc.contributor.authorSobków, Agata
dc.contributor.authorJurewicz, Kacper
dc.contributor.authorZaleśkiewicz, Tomasz
dc.contributor.authorPrończuk, Anna
dc.contributor.authorMondal, Supratik
dc.contributor.authorBadecka, Justyna
dc.contributor.authorBartkiewicz, Urszula
dc.contributor.authorBobowiec, Wiktoria
dc.contributor.authorBochniak, Michał
dc.contributor.authorChwalibok, Karina
dc.contributor.authorCzech, Łukasz
dc.contributor.authorDaniluk-Malcherek, Joanna
dc.contributor.authorDomańska, Maja
dc.contributor.authorDziwusz, Nikola
dc.contributor.authorFalborska, Patrycja
dc.contributor.authorGazda, Zuzanna
dc.contributor.authorGruszczyński, Łukasz
dc.contributor.authorGrzejdziak, Sara
dc.contributor.authorKalus, Adam
dc.contributor.authorKnotz, Katarzyna
dc.contributor.authorKocik, Aleksandra
dc.contributor.authorKrzysiek, Adrian
dc.contributor.authorKuriata, Tomasz
dc.contributor.authorKuriata, Wiktor
dc.contributor.authorKusiak, Karolina
dc.contributor.authorLitwińczuk, Patrycja
dc.contributor.authorŁaciok, Daniel
dc.contributor.authorMarek, Justyna
dc.contributor.authorMnich, Laura
dc.contributor.authorMrowiec, Aleksander
dc.contributor.authorMyślikowska, Iga
dc.contributor.authorOssowska, Aleksandra
dc.contributor.authorPanek, Paula
dc.contributor.authorPawelec, Agnieszka
dc.contributor.authorPozaroszczyk, Jakub
dc.contributor.authorRogowska, Alicja
dc.contributor.authorSeredyuk, Anna
dc.contributor.authorSeweryn, Miłosz
dc.contributor.authorShakhraichuk, Ivan
dc.contributor.authorSielicki, Michał
dc.contributor.authorSiemieniec, Maria
dc.contributor.authorStec, Aleksandra
dc.contributor.authorSzczepaniak, Aleksandra
dc.contributor.authorTrufanova, Oksana
dc.contributor.authorZgajewska, Anna
dc.contributor.authorTraczyk, Jakub
dc.date.access2025-01-27
dc.date.accessioned2025-01-29T08:56:05Z
dc.date.available2025-01-29T08:56:05Z
dc.date.created2024-12-17
dc.date.issued2025-01-27
dc.description.abstract<jats:p>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. Materials, data, and scripts are available at: https://osf.io/927bx/</jats:p>
dc.description.accesstimeat_publication
dc.description.grantnumber2018/31/D/HS6/02899
dc.description.granttitleRola wielorakich zdolności numerycznych we wspieraniu podejmowania decyzji
dc.description.issue1
dc.description.physical1-20
dc.description.versionfinal_published
dc.description.volume11
dc.identifier.doi10.1525/collabra.128514
dc.identifier.eissn2474-7394
dc.identifier.urihttps://share.swps.edu.pl/handle/swps/1247
dc.identifier.weblinkhttps://online.ucpress.edu/collabra/article/11/1/128514/205431/The-Role-of-Numeracy-in-Judgment-and-Decision
dc.languageen
dc.pbn.affiliationpsychologia
dc.rightsCC-BY
dc.rights.questionYes_rights
dc.share.articleOPEN_JOURNAL
dc.subject.ennumeracy
dc.subject.enreplication
dc.subject.endecision making
dc.subject.enjudgment
dc.subject.enobjective numeracy
dc.swps.sciencecloudsend
dc.titleThe Role of Numeracy in Judgment and Decision Making: The Replication of Eleven Effects Across Various Numeracy Scales
dc.title.journalCollabra: Psychology
dc.typeJournalArticle
dspace.entity.typeArticle