When asked to determine whether a syllogistic argument is deductively valid, people are influenced by their prior beliefs about the believability of the conclusion. Recently, two competing explanations for this belief bias effect have been proposed, each based on signal detection theory (SDT). Under a response bias explanation, people set more…

What are the cognitive mechanisms underlying subjective valuations formed on the basis of sequential experiences of an option's possible outcomes? Ashby and Rakow (2014) have proposed a sliding window model (SWIM), according to which people's valuations represent the average of a limited sample of recent experiences (the size of which is estimated…

Recent research investigating decisions from experience suggests that not all information is treated equally in the decision process, with more recently encountered information having a greater impact. We report 2 studies investigating how this differential treatment of sequentially encountered information affects subjective valuations of risky…

How do people judge the monetary value of objects? One clue is provided by the typical endowment study (D. Kahneman, J. L. Knetsch, & R. H. Thaler, 1991), in which participants are randomly given either a good, such as a coffee mug, that they may later sell ("sellers") or a choice between the good and amounts of cash ("choosers"). Sellers…