Table 1 Decision maker factors
Factor | Definition | Association with consistency | Type of supporting data |
|---|---|---|---|
Age | Age of the decision-maker | Older decision makers show more consistency between hypothetical and real life decisions | Empirical [30] |
Education | Educational attainment of the decision-maker | More educated decision makers show more consistency between hypothetical and real decisions | Empirical [30] |
Cognitive Control | The decision-makers use of mental processes to concentrate and think | Higher cognitive control is correlated to inconsistency between hypothetical decisions and real decisions | Empirical [23] |
Cognitive Ability | Cognitive ability of the decision-maker | Higher cognitive ability increases risk aversion for hypothetical decisions but not for real life ones | Empirical [25] |
Thinking Dispositions | Whether decision-makers have dispositions about thinking that allow them to accept strategies to make hypothetical reasoning resemble real-world reasoning | Being in a state of prolonged doubt increases correlation between hypothetical and real life decisions | Hypothesis [21] |
Openness to Experience | Measure of the decision-maker’s openness to a variety of ideas and experiences | Greater openness to experience trait (IASR-B5) is predictive of hypothetical decisions but not real ones | |
Other Personality Traits | Personality traits, other than openness to experience, of the decision-maker | Personality traits, especially extraversion low neuroticism, and anti-social traits correlated with inconsistently between hypothetical and real life decisions |