Supratik Mondal

SWPS University | SWPS

Numeracy, representing the ability to understand and process information related to probabilities and numbers, is crucial for accurate decision making. This study evaluates the replicability of eleven effects that underscore the pivotal role of numeracy in judgment and decision making, with successful replication defined as a statistically signific...

A vast body of research has indicated that intensified deliberation on choice problems often improves decision accuracy, as evidenced by choices that maximize expected value (EV). However, such extensive deliberation is not always feasible due to cognitive and environmental constraints. In one simulation study and three well-powered fully incentivi...

Numeracy, representing the ability to understand and process information related to probabilities and numbers, is crucial for accurate decision making. This study evaluates the replicability of eleven effects that underscore the pivotal role of numeracy in judgment and decision making. Furthermore, the study explores the potential impact of employi...

A vast body of research has indicated that intensified deliberation on choice problems often improves decision accuracy, as evidenced by choices that maximize expected value (EV). However, such extensive deliberation is not always feasible due to cognitive and environmental constraints. In one simulation study and three well-powered fully-incentivi...

Recent studies have illustrated that individuals with higher numeracy are more likely to make adaptive choices than individuals with lower numeracy. Highly numerate individuals can consistently make normatively superior choices by maximizing expected value (EV) in meaningful choice problems (high-payoff condition). However, in trivial problems (low...

Recent studies have illustrated that individuals with higher numeracy are more likely to make adaptive choices than individuals with lower numeracy. Highly numerate individuals can consistently make normatively superior choices by maximizing expected value (EV) in meaningful choice problems (high-payoff condition). However, in trivial problems (low...

A vast body of research has indicated that individuals with higher statistical numeracy, in comparison to individuals with lower statistical numeracy, make superior decisions by employing more deliberative processes leading to selecting options with the highest expected value (EV). However, it is not feasible to deliberate every time we make a choi...

A vast body of research has indicated that individuals with higher statistical numeracy, in comparison to individuals with lower statistical numeracy, make superior decisions by employing more deliberative processes leading to selecting options with the highest expected value (EV). However, it is not feasible to deliberate every time we make a choi...

The main aim of this study is to replicate the effect shown by Traczyk et al. (2018), where individuals with higher statistical numeracy, compared to individuals with lower statistical numeracy, employed a more effortful choice strategy when outcomes were meaningful. I hypothesize that participants with higher numeracy will be more likely to make c...

Centre of Behavioural and Cognitive Sciences, University of Allahabad. References where, G(y)= fat-tailed distribution μ = Location parameter σ = Scale parameter ξ = Shape parameter α = Tail index x= Y −μ σ when, In perceptual decision making, Drift Diffusion model(DDM) widely use to fit choices and associated reaction time data, where it is known...

DDM widely use to fit accuracy of choices and associated reaction time data, where it is known to implement theoretically optimal algorithms. This is certainly the case in frequentist environments or environments where series of less probable events have impact over our action policy. However, in reality this assumption is hardly always satisfied, an...