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On the reliability of individual economic rationality measurements
A contemporary research agenda in behavioral economics and neuroeconomics aims to identify individual differences and (neuro)psychological correlates of rationality. This research has been widely received in important interdisciplinary and field outlets. However, the psychometric reliability of such...
Autores principales: | , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
National Academy of Sciences
2022
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9351500/ https://www.ncbi.nlm.nih.gov/pubmed/35881803 http://dx.doi.org/10.1073/pnas.2202070119 |
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author | Nitsch, Felix J. Lüpken, Luca M. Lüschow, Nils Kalenscher, Tobias |
author_facet | Nitsch, Felix J. Lüpken, Luca M. Lüschow, Nils Kalenscher, Tobias |
author_sort | Nitsch, Felix J. |
collection | PubMed |
description | A contemporary research agenda in behavioral economics and neuroeconomics aims to identify individual differences and (neuro)psychological correlates of rationality. This research has been widely received in important interdisciplinary and field outlets. However, the psychometric reliability of such measurements of rationality has been presumed without enough methodological scrutiny. Drawing from multiple original and published datasets (in total over 1,600 participants), we unequivocally show that contemporary measurements of rationality have moderate to poor reliability according to common standards. Further analyses of the variance components, as well as a allowing participants to revise previous choices, suggest that this is driven by low between-subject variance rather than high measurement error. As has been argued previously for other behavioral measurements, this poses a challenge to the predominant correlational research designs and the search for sociodemographic or neural predictors. While our results draw a sobering picture of the prospects of contemporary measurements of rationality, they are not necessarily surprising from a theoretical perspective, which we outline in our discussion. |
format | Online Article Text |
id | pubmed-9351500 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2022 |
publisher | National Academy of Sciences |
record_format | MEDLINE/PubMed |
spelling | pubmed-93515002023-01-26 On the reliability of individual economic rationality measurements Nitsch, Felix J. Lüpken, Luca M. Lüschow, Nils Kalenscher, Tobias Proc Natl Acad Sci U S A Social Sciences A contemporary research agenda in behavioral economics and neuroeconomics aims to identify individual differences and (neuro)psychological correlates of rationality. This research has been widely received in important interdisciplinary and field outlets. However, the psychometric reliability of such measurements of rationality has been presumed without enough methodological scrutiny. Drawing from multiple original and published datasets (in total over 1,600 participants), we unequivocally show that contemporary measurements of rationality have moderate to poor reliability according to common standards. Further analyses of the variance components, as well as a allowing participants to revise previous choices, suggest that this is driven by low between-subject variance rather than high measurement error. As has been argued previously for other behavioral measurements, this poses a challenge to the predominant correlational research designs and the search for sociodemographic or neural predictors. While our results draw a sobering picture of the prospects of contemporary measurements of rationality, they are not necessarily surprising from a theoretical perspective, which we outline in our discussion. National Academy of Sciences 2022-07-26 2022-08-02 /pmc/articles/PMC9351500/ /pubmed/35881803 http://dx.doi.org/10.1073/pnas.2202070119 Text en Copyright © 2022 the Author(s). Published by PNAS https://creativecommons.org/licenses/by-nc-nd/4.0/This article is distributed under Creative Commons Attribution-NonCommercial-NoDerivatives License 4.0 (CC BY-NC-ND) (https://creativecommons.org/licenses/by-nc-nd/4.0/) . |
spellingShingle | Social Sciences Nitsch, Felix J. Lüpken, Luca M. Lüschow, Nils Kalenscher, Tobias On the reliability of individual economic rationality measurements |
title | On the reliability of individual economic rationality measurements |
title_full | On the reliability of individual economic rationality measurements |
title_fullStr | On the reliability of individual economic rationality measurements |
title_full_unstemmed | On the reliability of individual economic rationality measurements |
title_short | On the reliability of individual economic rationality measurements |
title_sort | on the reliability of individual economic rationality measurements |
topic | Social Sciences |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9351500/ https://www.ncbi.nlm.nih.gov/pubmed/35881803 http://dx.doi.org/10.1073/pnas.2202070119 |
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