Relating Decision Making Styles to Predicting Selfefficacy and a Generalized Expectation of Success and Failure

Abstract

The theoretical and applied distinction between a propensity toward a more intuitive decision style versus a more analytical style has gained prominence in recent years. A self-report measure, the Decision Making Styles Inventory, is presented and is shown to differentiate among those who endorse an analytical, an intuitive, or an avoidant, regret-based decision style. Results from one study, a horse race betting task, indicated that those who endorsed a decision style, particularly those endorsing a flexible analytical and intuitive style, performed better on the task than those who did not. A second study clearly showed that decision style was related to self reports of self-efficacy, optimism, and self-regard. These results suggest that having either an analytical, intuitive or combined decision style is beneficial to the decision maker.