Measuring decision confidence
通过两个实验,研究个体在选项间随机化的概率能否反映其决策信心,发现随机化概率与自我报告的信心高度相关,且受决策复杂度与经验影响。
Abstract We examine whether the way individuals randomize between options captures their decision confidence. In two experiments in which subjects faced pairs of options (a lottery and a varying sure payment), we allowed subjects to choose randomization probabilities according to which they would receive each option. Separately, we obtained two measures of self-reported confidence - confidence statements and probabilistic confidence - for choosing between the two options. Consistent with the predictions of two theoretical frameworks incorporating preference uncertainty, the randomization probabilities correlated strongly with both self-reported measures (median Spearman correlations between 0.86 to 0.89) and corresponded in absolute levels to probabilistic confidence. This relationship is robust to two exogenous manipulations of decision confidence, where we varied the complexity of the lottery and subjects’ experience with the lottery.