Evidence map›Paper›PMID 37365245›Full record

ArticleScientific reports2023

The persistence of cognitive biases in financial decisions across economic groups.

Kai Ruggeri, Sarah Ashcroft-Jones, Giampaolo Abate Romero Landini, Narjes Al-Zahli, Natalia Alexander, Mathias Houe Andersen, Katherine Bibilouri, Katharina Busch, Valentina Cafarelli, Jennifer Chen and 32 more

Abstract read
PubMed Full text at PMC Publisher
In one paragraph

Article in Scientific reports, 2023. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 5 papers.

0numbers the graph read from it
0cells of the map it votes in
5citing papers in PubMed
–field-weighted citation impact
1 · What the graph read from it

What it found

Each row is one number read from the abstract, on the scale the paper reported it, with its interval. Left of the dashed line favours the treatment, right favours the comparator. Under each row is the sentence it came from. New to these charts? A ten-minute tutorial.

The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.

2 · The registry

The trial behind it

Trials whose registry record cites this paper, or whose number appears in the abstract. A trial that started after this paper was published is citing it as background, not reporting it.

Neither the registry nor the abstract names a trial number. If this is a trial report, that itself is worth knowing.

3 · Its place in the literature

Who cites it

5 citing papers in PubMed.

  1. Article
  2. Article
  3. Article
  4. Article
  5. Article
4 · The record

Corrections and comments

PubMed lists nothing against this paper. Absence here is not a guarantee, only a check that was made.

5 · Who and what money

Authors and funding

42 authors.

Kai Ruggeri *Department of Health Policy and Management, Columbia University, 722 W 168th Street, New York, NY, 10032, USA.
Sarah Ashcroft-Jones *Department of Experimental Psychology, University of Oxford, Oxford, UK. sarah.ashcroft-jones@queens.ox.ac.uk.
Giampaolo Abate Romero LandiniDepartment of Psychology, University of Padua, Via VIII Febbraio, 35122, Padua, PD, Italy.
Narjes Al-ZahliDepartment of Computer Science, Columbia University, 500 W 120th Street, New York, NY, 10027, USA.
Natalia AlexanderColumbia University, 116th and Broadway, New York, NY, 10027, USA.
Mathias Houe AndersenDepartment of Psychology and Behavioural Sciences, Aarhus University, Bartholins Allé 11, 8000, Aarhus, Denmark.
Katherine BibilouriDepartment of Psychology, Columbia University, 1180 Amsterdam Avenue, New York, NY, 10027, USA.
Katharina BuschGerman Center for Addiction Research in Childhood and Adolescence, University Medical Center Hamburg-Eppendorf, Martinistr 52, 20246, Hamburg, Germany.
Valentina CafarelliDepartment of Health Policy and Management, Columbia University, 722 W 168th Street, New York, NY, 10032, USA.
Jennifer ChenDepartment of Economics, Columbia University, 420 W 118th Street, New York, NY, 10027, USA.
Barbora DoubravováDepartment of Psychology, Faculty of Social Studies, Masaryk University, Joštova 218/10, 60200, Brno, Czech Republic.
Tatianna DuguéDepartment of Psychology, Columbia University, 1180 Amsterdam Avenue, New York, NY, 10027, USA.
Aleena Asfa DurraniDepartment of Health Policy and Management, Columbia University, 722 W 168th Street, New York, NY, 10032, USA.
Nicholas DutraDepartment of Psychology, Columbia University, 1180 Amsterdam Avenue, New York, NY, 10027, USA.
Eduardo Garcia-GarzonDepartment of Health, Universidad Camilo José Cela, Madrid, Spain.
Christian GomesDepartment of Psychology, Columbia University, 1180 Amsterdam Avenue, New York, NY, 10027, USA.
Aleksandra GrachevaDepartment of Political Science, Columbia University, 420 W 118th Street, New York, NY, 10027, USA.
Neža GrilcDepartment of Life Sciences, University of Roehampton, Whitelands College, London, SW15 4JD, UK.
Deniz Mısra GürolDepartment of Psychology, Koc University, 34349, Istanbul, Turkey.
Zoe HeidenryDepartment of Psychology, Columbia University, 1180 Amsterdam Avenue, New York, NY, 10027, USA.
Clara HuDepartment of Psychology, Columbia University, 1180 Amsterdam Avenue, New York, NY, 10027, USA.
Rachel KrasnerDepartment of Psychology, Barnard College, Columbia University, 3009 Broadway, New York, NY, 10027, USA.
Romy LevinDepartment of Psychology, Barnard College, Columbia University, 3009 Broadway, New York, NY, 10027, USA.
Justine LiDepartment of Biological Sciences, Columbia University, 1212 Amsterdam Avenue, New York, NY, 10027, USA.
Ashleigh Marie Elizabeth MessengerDepartment of Psychology, University of Stirling, Stirling, Scotland, FK9 4L, UK.
Melika MiralemLund University, Lund, Sweden.
Fredrik NilssonDepartment of Clinical Neuroscience, Division of Psychology, Karolinska Institutet, Solna, 171 77, Stockholm, Sweden.
Julia Marie OberschulteDepartment of Psychology, Ludwig-Maximilians-Universität München, Munich, Germany.
Takashi ObiDepartment of Public Administration, Columbia University, 420 West 118th Street, New York, NY, 10027, USA.
Anastasia PanDepartment of Psychology, Barnard College, Columbia University, 3009 Broadway, New York, NY, 10027, USA.
Sun Young ParkDepartment of Psychology, Columbia University, 1180 Amsterdam Avenue, New York, NY, 10027, USA.
Daria Stefania PascuDepartment of Developmental Psychology and Socialisation, University of Padua, Via Venezia 12, 35131, Padua, PD, Italy.
Sofia PelicaDepartment of Social and Organizational Psychology, Iscte-University Institute of Lisbon, Avenida das Forças Armadas, 1649-026, Lisbon, Portugal.
Maksymilian PyrkowskiSWPS University, Chodakowska 19/31, Warsaw, Poland.
Katherinne RabanalDepartment of Cognitive Science, Columbia University, 116th & Broadway, New York, NY, 10027, USA.
Pika RancDepartment of Psychology, University of Ljubljana, Aškerčeva Cesta 2, 1000, Ljubljana, Slovenia.
Žiga Mekiš RecekDepartment of Psychology, University of Ljubljana, Aškerčeva Cesta 2, 1000, Ljubljana, Slovenia.
Alexandra SymeonidouDepartment of Clinical Psychology, Leiden University, Wassenaarseweg 52, 2333 AK, Leiden, South Holland, The Netherlands.
Olivia Symone TutuskaDepartment of Sociology, Columbia University, 606 W 122nd Street, New York, NY, 10027, USA.
Milica VdovicDepartment of Psychology, Faculty of Media and Communications, Singidunum University, Karadjordjeva 65, Belgrade, 11000, Serbia.
Qihang YuanDepartment of Psychology, Columbia University, 1180 Amsterdam Avenue, New York, NY, 10027, USA.
Friederike StockUniversity of Cologne, Albertus-Magnus-Platz, 50923, Cologne, Germany.

Funding

Medical Research Council MR/N013468/1
6 · The paper itself

Abstract

While economic inequality continues to rise within countries, efforts to address it have been largely ineffective, particularly those involving behavioral approaches. It is often implied but not tested that choice patterns among low-income individuals may be a factor impeding behavioral interventions aimed at improving upward economic mobility. To test this, we assessed rates of ten cognitive biases across nearly 5000 participants from 27 countries. Our analyses were primarily focused on 1458 individuals that were either low-income adults or individuals who grew up in disadvantaged households but had above-average financial well-being as adults, known as positive deviants. Using discrete and complex models, we find evidence of no differences within or between groups or countries. We therefore conclude that choices impeded by cognitive biases alone cannot explain why some individuals do not experience upward economic mobility. Policies must combine both behavioral and structural interventions to improve financial well-being across populations.

Indexed as

Behavior TherapyPovertyAdultBiasCognitionHumansVulnerable Populations

Identifiers

PMID37365245
PMCPMC10293260

What OpenQuestion holds

Textmetadata
LicenceCC BY
Read underepoch 390

Registered trials

None linked

Read under generation 80e0d062 · epoch 390. Bibliography from PubMed, PubMed Central and OpenAlex; grants from NIH RePORTER; trial links from ClinicalTrials.gov; estimates, votes and beliefs from the OpenQuestion graph.