The Weight of Advice in Decision-Making
Author Information
Author(s): Phoebe E. Bailey, Tarren Leon, Natalie C. Ebner, Ahmed A. Moustafa, Gabrielle Weidemann
Primary Institution: Graduate School of Health, University of Technology Sydney
Hypothesis
How do perceived quality and characteristics of advice influence decision-making?
Conclusion
People adjust their estimates based on the perceived quality of advice, with significant implications for decision-making.
Supporting Evidence
- Individuals adjusted their estimates by 32%, 37%, and 48% based on low, neutral, or high-quality advice.
- The average weight of advice taken was 39%, indicating a tendency to underutilize advice.
- Perceived advice quality was the strongest predictor of advice-taking behavior.
- Sample characteristics such as age and gender did not significantly influence advice-taking.
- Advice-taking increased for subjective estimates compared to objective ones when advisor quality was neutral.
Takeaway
When people get advice, they often change their guesses based on how good they think the advice is. If they think the advice is bad, they might not listen to it as much.
Methodology
This study conducted a meta-analysis of 346 effect sizes from 129 independent datasets to assess the influence of advice quality on decision-making.
Potential Biases
Potential publication bias was detected, indicating that the findings may not fully represent the true effects.
Limitations
The study did not assess the process of advice-taking interactions and relied on existing datasets, which may not capture all relevant factors.
Participant Demographics
The sample included a diverse range of participants across various studies, with no significant effects found for age, gender, or individualism.
Statistical Information
P-Value
<0.001
Confidence Interval
[0.37, 0.42]
Statistical Significance
p<0.001
Digital Object Identifier (DOI)
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