Document Detail


Decision making under time pressure, modeled in a prospect theory framework.
MedLine Citation:
PMID:  22711977     Owner:  NLM     Status:  Publisher    
Abstract/OtherAbstract:
The current research examines the effects of time pressure on decision behavior based on a prospect theory framework. In Experiments 1 and 2, participants estimated certainty equivalents for binary gains-only bets in the presence or absence of time pressure. In Experiment 3, participants assessed comparable bets that were framed as losses. Data were modeled to establish psychological mechanisms underlying decision behavior. In Experiments 1 and 2, time pressure led to increased risk attractiveness, but no significant differences emerged in either probability discriminability or outcome utility. In Experiment 3, time pressure reduced probability discriminability, which was coupled with severe risk-seeking behavior for both conditions in the domain of losses. No significant effects of control over outcomes were observed. Results provide qualified support for theories that suggest increased risk-seeking for gains under time pressure.
Authors:
Diana L Young; Adam S Goodie; Daniel B Hall; Eric Wu
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Publication Detail:
Type:  JOURNAL ARTICLE     Date:  2012-4-14
Journal Detail:
Title:  Organizational behavior and human decision processes     Volume:  118     ISSN:  0749-5978     ISO Abbreviation:  -     Publication Date:  2012 Jul 
Date Detail:
Created Date:  2012-6-19     Completed Date:  -     Revised Date:  -    
Medline Journal Info:
Nlm Unique ID:  8504453     Medline TA:  Organ Behav Hum Decis Process     Country:  -    
Other Details:
Languages:  ENG     Pagination:  179-188     Citation Subset:  -    
Affiliation:
Georgia College & State University, Milledgeville, GA 31061, USA.
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