Probabilistic Categorization with Meaningful Information Using Traders and Non-Traders

Abstract

This study evaluated if superficial features of a probabilistic task affected performance. In particular, cards/ cues had meanings, related to the cover story. Participants had to predict if the price of a share went up or down, given a combination of the meaningful cards. Two types of participants were tested. One group was related to the cover story: they were traders. The other was composed by subjects without any trading experience. The data was analyzed using strategy analysis by Meeter et al. (2006). The results showed that the task was harder, both in comparison to other studies and previously collected data in 2009. In fact, it seems that the paradigm is prone to framing-effects, where the superficial features are important in learning or deciding properly.

Type
Publication
Documentos de Investigación

Related