Here, we present a strong test of the hypothesis that sacrificial moral dilemmas are solved using the same value-based decision mechanism that operates on decisions concerning economic goods. To test this hypothesis, we developed Psychological Value Theory. Psychological Value Theory is an expansion and generalization of Cohen and Ahn's (2016)…

It is commonly assumed that belief-based reasoning is fast and automatic, whereas rule-based reasoning is slower and more effortful. Dual-Process theories of reasoning rely on this speed-asymmetry explanation to account for a number of reasoning phenomena, such as base-rate neglect and belief-bias. The goal of the current study was to test this…

Much of our real-life decision making is bounded by uncertain information, limitations in cognitive resources, and a lack of time to allocate to the decision process. It is thought that humans overcome these limitations through "satisficing," fast but "good-enough" heuristic decision making that prioritizes some sources of…

Base-rate neglect refers to the tendency for people to underweight base-rate probabilities in favor of diagnostic information. It is commonly held that base-rate neglect occurs because effortful (Type 2) reasoning is required to process base-rate information, whereas diagnostic information is accessible to fast, intuitive (Type 1) processing…

Upon learning the outcome to a problem, people tend to believe that they knew it all along ("hindsight bias"). Here, we report the first study to trace the development of hindsight bias across the life span. One hundred ninety-four participants aged 3 to 95 years completed 3 tasks designed to measure visual and verbal hindsight bias. All age…