The effects of cognitive closure need and time pressure on individual risk decision making

This study examined the effects of need for cognitive closure and time pressure on individual risky decision-making. Ninety-one college students were randomly selected to participate. Their risky decision-making behaviors were measured using a mixed experimental design with two levels of cognitive closure needs (high and low) and two levels of time pressure (pressured and unpressured), utilizing the Balloon Analog Risk Task (BART). The need for cognitive closure was a between-group variable, and time pressure was a within-group variable. The results revealed a significant interaction between the need for cognitive closure and time pressure. For individuals with low cognitive closure needs, risky behavior was significantly higher in the absence of time pressure than in its presence. However, for individuals with high cognitive closure needs, the difference in risky behavior with and without time pressure was not significant. The findings of this research suggest that individuals who have a low need for cognitive closure might be more vulnerable to the effects of time pressure when faced with risky decision-making decisions.