Skip to main content
Article
The role of numeracy and approximate number system acuity in predicting value and probability distortion
Psychonomic Bulletin and Review (2015)
  • Andrea L Patalano, Wesleyan University
  • Jason R Saltiel, Wesleyan University
  • Laura Machlin, Wesleyan University
  • Hilary C Barth, Wesleyan University
Abstract

It is well documented that individuals distort out- come values and probabilities when making choices from de- scriptions, and there is evidence of systematic individual dif- ferences in distortion. In the present study, we investigated the relationship between individual differences in such distortions and two measures of numerical competence, numeracy and approximate number system (ANS) acuity. Participants indi- cated certainty equivalents for a series of simple monetary gambles, and data were used to estimate individual-level value and probability distortion, using a cumulative prospect theory framework. We found moderately strong negative correlations between numeracy and value and probability distortion, but only weak and non-statistically reliable correlations between ANS acuity and distortions. We conclude that low numeracy contributes to number distortion in decision making, but that approximate number system acuity might not underlie this relationship.

Disciplines
Publication Date
2015
Citation Information
Andrea L Patalano, Jason R Saltiel, Laura Machlin and Hilary C Barth. "The role of numeracy and approximate number system acuity in predicting value and probability distortion" Psychonomic Bulletin and Review Vol. 22 (2015)
Available at: http://works.bepress.com/andrea_patalano/28/