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
中科院分区:
文献类型:
--
作者:
Chabris CF;Laibson D;Morris CL;Schuldt JP;Taubinsky D
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
作者:
Chabris, Christopher F.;Laibson, David;Morris, Carrie L.;Schuldt, Jonathon P.;Taubinsky, Dmitry
通讯作者:
Taubinsky, Dmitry
影响因子:
10.7
作者:
Gabaix, Xavier;Laibson, David;Weinberg, Stephen
通讯作者:
Weinberg, Stephen
影响因子:
4.1
作者:
Kirby, KN;Petry, NM;Bickel, WK
通讯作者:
Bickel, WK
影响因子:
4.4
作者:
Jaroni, JL;Wright, SM;Epstein, LH
通讯作者:
Epstein, LH
影响因子:
16.2
作者:
Pinel, P;Piazza, M;Dehaene, S
通讯作者:
Dehaene, S