Outcome Feedback And Need For Cognitive Closure Impact On Decisions From Experience

Decisions from experience making refers to the recognition and analysis of the event to be decided,as well as the final determination of which decision option to choose,based solely on the experience and habitual way of thinking accumulated by the decision maker in his or her previous behaviors.In recent years,academia has paid close attention to the impact of decision-makers’ own characteristics in the decision-making process,such as the need for cognitive closure and motivation.Different types of outcome feedback will provide different amounts of information to the subjects.Individuals with different levels of need for cognitive closure to make different use of information content search.Based on previous research results,this article introduces the need for cognitive closure and outcome feedback into decisions from experience research,conducts experimental research and analysis,and deeply explores their impact on decisions from experience preferences,as well as the interaction between them.This study will provide empirical evidence for a deeper understanding of the synergistic mechanisms in experiential decision-making,enriching the development of theories related to experiential decision-making.At the same time,it also has certain practical significance for improving decision-makers’ ability to respond to decision-making problems.In this study,the experimental design of independent variable 2(need for cognitive closure: high and low)Χ3(outcome Feedback: no feedback,partial feedback,complete feedback)was used to explore the decision-making preferences of college students through two experiments: the Iowa Game Task and the Balloon Analogue Risk Task.The results show that the need for cognitive closure significantly affects people’s behavior in the decisions from experience process;outcome Feedback types had no significant impact on decisions from experience preferences in Iowa game tasks,but had a significant impact on decision-making preferences in Balloon Analogue Risk Task;need for cognitive closure and outcome feedback types interact with decisions from experience.This interaction exists both in the static decision-making paradigm Iowa game task and in the dynamic decision-making paradigm Balloon Analogue Risk Task.The following conclusions were obtained:1.Individuals with high need for cognitive closure tend to avoid risk when making decisions,while subjects with low cognitive closure needs tend to seek risk.Individuals with high need for cognitive closure less time to make decisions than individuals with low cognitive closure needs.2.In the Balloon Analogue Risk Task,the individual risk preference value under the condition of complete feedback is the highest,indicating that the subjects are the most adventurous during the stage of complete feedback.3.In the two experimental tasks,individuals with low cognitive closure needs had higher risk seeking in the complete feedback situation than in the non-feedback situation and partial feedback situation,indicating that decision makers with low cognitive closure needs were riskier in the complete feedback situation.However,high cognitive closure requires individuals to perform slightly differently in both tasks.Specifically,in IGT tasks,individuals with high cognitive closure needs have higher risk seeking in partial feedback situations than in non-feedback situations and complete feedback situations,indicating that decision makers with high cognitive closure needs are the riskiest in partial feedback situations;In the BART task,individuals with a high need for cognitive closure are the riskiest in the non-feedback situation.