Executive functions, categorization of probabilities, and learning from feedback: What does really matter for decision making under explicit risk conditions?

Abstract

In two experiments with healthy subjects, we used the Game of Dice Task (GDT), the Probability-Associated Gambling (PAG) task, the Iowa Gambling Task (IGT), and executive-function and logical thinking tasks to shed light on the underlying processes of decision making under risk. Results indicate that handling probabilities, as in the PAG task, is an important ingredient of GDT performance. Executive functions and logical thinking also play major roles in deciding in the GDT. Implicit feedback learning, as measured by the IGT, has little impact. Results suggest that good probability handling may compensate for the effects of weak executive functions in decisions under risk.

Keywords:

• Decisions under risk
• Game of Dice Task
• Probability-Associated Gambling Task
• Iowa Gambling Task
• Executive functions
• Feedback learning

Acknowledgments

L.Z. receives research support from the Austrian Science Fund (FWF), Project P21636-B18.