Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/315606 
Year of Publication: 
2024
Citation: 
[Journal:] Journal of Risk and Uncertainty [ISSN:] 1573-0476 [Volume:] 68 [Issue:] 2 [Publisher:] Springer US [Place:] New York, NY [Year:] 2024 [Pages:] 133-161
Publisher: 
Springer US, New York, NY
Abstract: 
Does exposure to cognitive load affect key properties of economic behavior? In this experiment, subjects face a series of simple binary decision tasks between prospects, testing for monotonicity in monetary payments, consistency with (first-order) stochastic dominance, reduction of compound lotteries, risk attitudes, and ambiguity attitudes. Cognitive load is manipulated via simultaneous memory tasks. Our data show treatment differences resulting from cognitive load for decision tasks with risky outcomes. However, cognitive load has no impact on monotonicity and ambiguity attitudes. Under a dual-process view of human decision-making, our findings suggest that ambiguity attitudes and preferences for “more certain money” are intuitive, not reasoned.
Subjects: 
Cognitive load
Certainty
Risk
Ambiguity
Cognitive ability
Experiment
JEL: 
C91
D81
D91
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

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