Table 4.
Fit Indices for Structural Models of the Memory-Decision Making Relationships.
| Decision-making task | Model | χ2 | d.f. (χ2/df) | SRMR | AIC | CFI | APGI | RMSEA | WM→dmc | EM→dmc | SM→dmc |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Resistance to Framing (N = 510) |
Full path | 41.65 | 21 1.98 | .033 | .176 | .982 | .981 | .044 | .306** (.11) | −.003 (.08) | .006 (.08) |
| WM | 41.65 | 23 1.81 | .033 | .168 | .984 | .984 | .040 | .309*** (.05) | - | - | |
| No path | 72.48 | 24 3.02 | .070 | .225 | .958 | .961 | .063 | - | - | - | |
|
Applying Decision Rules (N = 506) |
Full path | 53.75 | 21 2.56 | .038 | .201 | .973 | .970 | .055 | .448*** (.10) | −.065 (.08) | .197* (.08) |
| WM | 60.42 | 23 2.63 | .040 | .207 | .969 | .970 | .055 | .544*** (.04) | - | - | |
| WM, SM | 54.46 | 22 2.47 | .038 | .199 | .973 | .971 | .054 | .388*** (.07) | - | .196** (.07) | |
| SM | 77.85 | 23 3.38 | .049 | .241 | .955 | .952 | .070 | - | - | .462*** (.04) | |
| No path | 160.96 | 24 6.71 | .117 | .402 | .888 | .902 | .102 | - | - | - | |
|
Under/Overconfidence (N = 510) |
Full path | 45.67 | 21 2.17 | .035 | .184 | .979 | .977 | .049 | .225* (.10) | .049 (.07) | .014 (.08) |
| WM | 46.13 | 23 2.00 | .035 | .177 | .980 | .980 | .045 | .281*** (.05) | - | - | |
| No path | 71.23 | 24 2.97 | .068 | .222 | .959 | .962 | .062 | - | - | - | |
|
Recognizing Social Norms (N = 503) |
Full path | 32.71 | 21 1.56 | .029 | .161 | .989 | .989 | .033 | −.080 (.11) | .138^ (.08) | .128 (.08) |
| EM | 35.51 | 23 1.54 | .032 | .158 | .989 | .990 | .032 | - | .152** (.05) | - | |
| No path | 45.68 | 24 1.90 | .050 | .175 | .980 | .983 | .042 | - | - | - | |
|
Resistance to Sunk Costs (N = 510) |
Full path | 40.42 | 21 1.92 | .032 | .174 | .983 | .982 | .042 | −.222* (.11) | −.018 (.07) | .358*** (.08) |
| SM | 48.61 | 23 2.11 | .039 | .182 | .978 | .978 | .047 | - | - | .195*** (.05) | |
| WM | 62.05 | 23 2.70 | .044 | .208 | .966 | .967 | .058 | .058 (.06) | - | - | |
| WM, SM | 40.48 | 22 1.84 | .032 | .170 | .984 | .984 | .040 | −.238** (.09) | - | .359*** (.08) | |
| No path | 63.02 | 24 2.63 | .048 | .206 | .966 | .969 | .056 | - | - | - | |
|
Consistency in Risk Perception (N = 510) |
Full path | 44.13 | 21 2.10 | .034 | .181 | .980 | .978 | .048 | −.074 (.11) | −.086 (.07) | .296*** (.08) |
| SM | 48.57 | 23 2.11 | .038 | .182 | .978 | .978 | .047 | - | - | .191*** (.05) | |
| No path | 62.33 | 24 2.60 | .048 | .205 | .966 | .970 | .056 | - | - | - |
Note. WM (working memory), EM (episodic memory), SM (semantic memory), dmc (Decision-Making Competence variable, as indicated in the first column). Estimated coefficients for memory→decision making relationship (in the last three columns) are followed by respective standard errors (in parentheses). Significance levels of two-tailed tests are as follows:
^
p < .10,
*
p < .05,
**
p < .01,
***
p < .001. The endorsed model for each A-DMC task is indicated in bold.