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ISSN : 1229-8778
The present study was designed to investigate the role of automatic and intuitive information, when presented together with deliberative and cognitive contextual information, in affecting investment behavior under the situation of uncertain and risky decision. Each participant, playing a role as trustor in laboratory trust games, was instructed to decide the amount of investment based on a photograph of the face and prior repayment ratio (RR) of a trustee. To examine the effect of information presentation order, participant viewed facial information prior to repayment ratio in the half of the trials, and the order was reversed for the rest of the trials. The experimental findings suggest that investment decisions can be influenced by facial trustworthiness of trustees even when repayment ratio is provided together. In addition, the effect of facial impression in investment decision can be significantly modulated by the presentation order, revealing increased facial impression effect in the trials where facial information follows RR information. The present study suggests that human investment behavior can be the final product of close interplay between two independent decision modules: intuitive vs. logical decision systems, supporting the idea of the dual process model.
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