| Decision making under time pressure, modeled in a prospect theory framework. | |
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MedLine Citation:
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PMID: 22711977 Owner: NLM Status: Publisher |
Abstract/OtherAbstract:
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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. |
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Authors:
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Diana L Young; Adam S Goodie; Daniel B Hall; Eric Wu |
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Publication Detail:
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Type: JOURNAL ARTICLE Date: 2012-4-14 |
Journal Detail:
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Title: Organizational behavior and human decision processes Volume: 118 ISSN: 0749-5978 ISO Abbreviation: - Publication Date: 2012 Jul |
Date Detail:
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Created Date: 2012-6-19 Completed Date: - Revised Date: - |
Medline Journal Info:
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Nlm Unique ID: 8504453 Medline TA: Organ Behav Hum Decis Process Country: - |
Other Details:
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Languages: ENG Pagination: 179-188 Citation Subset: - |
Affiliation:
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Georgia College & State University, Milledgeville, GA 31061, USA. |
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From MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine
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