The allocation of time in decision-making.

The allocation of time in decision-making.
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DOI:
10.1162/jeea.2009.7.2-3.628
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发表时间:
2009
影响因子:
3.6
通讯作者:
Taubinsky D
Taubinsky D
中科院分区:
经济学1区
文献类型:
--
作者:
Chabris CF;Laibson D;Morris CL;Schuldt JP;Taubinsky D

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我们研究的时间分配决策问题。如果一个决策者(1)对价值有噪声估计,(2)他或她分析选择问题的时间越长,这些估计就越好,(3)最佳地分配时间,那么当两个选项之间的价值差异相对较大时,决策者应该花更少的时间进行选择。为了验证这个预测,我们要求受试者做出27个二元激励相容的跨期选择,并测量每个决定的反应时间。我们的时间分配模型解释了平均决策时间的54%的方差。这些结果支持这样的观点,即决策是一个认知成本高的活动,使用时间作为投入分配根据成本效益原则。
We study the allocation of time across decision problems. If a decision-maker (1) has noisy estimates of value, (2) improves those estimates the longer he or she analyzes a choice problem, and (3) allocates time optimally, then the decision-maker should spend less time choosing when the difference in value between two options is relatively large. To test this prediction we ask subjects to make 27 binary incentive-compatible intertemporal choices, and measure response time for each decision. Our time allocation model explains 54% of the variance in average decision time. These results support the view that decision-making is a cognitively costly activity that uses time as an input allocated according to cost-benefit principles.
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影响因子: 4.7
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