Decision-making competence and cognitive abilities: Which abilities matter?

Decision-making competence is a skill that is associated with numerous positive life outcomes. Even though multiple cognitive abilities have been shown to predict decision-making competence, few studies have incorporated a large test battery tapping into several cognitive abilities concurrently in the same models. The current paper presents a study that sought to investigate which cognitive abilities predicted overall decision-making competence in adults using hierarchical regression analysis. A cognitive test battery, comprising abilities such as general intelligence, executive functions, numeracy, visuospatial ability, and time perception, was administered to 182 participants. Results indicate that both general intelligence, which was consistently the strongest predictor, and numeracy contributed independently to overall decision-making competence. Executive functions did predict overall decision-making competence, while all predictors were included in the models. A novel finding concerns the relationship between time perception and decision-making competence. The complementary roles of these cognitive abilities are discussed.