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Predecisional information distortion postulates that when an initial tentative preference is formed, the following information is distorted in the direction as the initial preference (Russo, 2015). There are only a few studies covering this phenomenon in the context of risky choices (DeKay et al., 2009; Dekay et al., 2010). In our study, we try to find out in how far participants are prone to predecisional distortion of information in risky choices when information is presented sequentially (“stepwise-evolution-paradigm", see Russo, 2015). , Information distortion is operationalised through the sequential presentation of information (outcome & probability) of two comparable gambles by asking two kinds of questions after every information (“How strongly does the information speak for the left or right gamble”/ “How much do you prefer the left or right gamble?”). Additionally, we use the CRT (Cognitive Reflection Task) to measure whether participants decide more intuitively or analytically. (Thompson & Oppenheimer, 2016; Primi et al., 2015). In addition, we measure participants’ general risk aversion (Holt & Laury, 2002) to test in how far a general tendency to prefer risky gambles correlates with information distortion. Moreover, by collecting the reaction time, we measure a possible indicator of intuitive processing. |
