Predicting biases in very highly educated samples: Numeracy and metacognition
By Saima Ghazal, Edward T. Cokely, R. García‐Retamero. Judgment and Decision Making, 2014
159 citations recorded by the source corpus.
We investigated the relations between numeracy and superior judgment and decision making in two large community outreach studies in Holland (n=5408). In these very highly educated samples (e.g., 30–50% held graduate degrees), the Berlin Numeracy Test was a robust predictor of financial, medical, and metacognitive task performance (i.e., lotteries, intertemporal choice, denominator neglect, and confidence judgments), independent of education, gender, age, and another numeracy assessment. Metacognitive processes partially mediated the link between numeracy and superior performance. More numerate participants performed better because they deliberated more during decision making and more accurately evaluated their judgments (e.g., less overconfidence). Results suggest that well-designed numeracy tests tend to be robust predictors of superior judgment and decision making because they simultaneously assess (1) mathematical competency and (2) metacognitive and self-regulated learning skills.
Subfields: Developmental and Educational Psychology, Experimental and Cognitive Psychology, Management Science and Operations Research
View Paper: https://www.semanticscholar.org/paper/b12fe5e2fd1fb728685dff560136a899b84f6882
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In Developmental and Educational Psychology
In Experimental and Cognitive Psychology
In Management Science and Operations Research
Citations in the corpus
- Competence, Confidence, and Gender: The Role of Objective and Subjective Financial Knowledge in Household Finance (2020, background): “Indeed, previous research has shown that both numeric processing and the ability to inhibit impulses are predictive of financial behaviors (Cheung et al. 2014; Corgnet et al. 2015; Gerardi et al. 2013; Ghazal et al. 2014; Oechssler et al. 2009; Strömbäck et al. 2017).”