Maximizers’ Susceptibility to the Effect of Frequency vs. Percentage Format in Risk Representation

Abstract

The present study explored the susceptibility of maximizers to the effect of the specific information format—frequency vs. percentage—in a risk assessment task. One-hundred and fourteen participants were randomized into two experimental conditions: a frequency format and a percentage format. In both conditions, participants had to rate the level of risk that a mental patient would harm someone after his discharge from a mental health facility, based on the information reported in the psychologist’s assessment for that patient. In the frequency condition, the information was presented in terms of frequencies, whereas in the percentage condition the same information was presented in terms of percentage. Our experiment showed that resolute maximizers are less affected by the specific format of the task than fearful maximizers. Thus, we conclude that resolute maximizers are more normative decision-makers. Theoretical and practical implications are discussed.