Response time and decision making: An experimental study

Ariel Rubinstein

    Research output: Contribution to journalArticlepeer-review

    Abstract

    Response time is used here to interpret choice in decision problems. I first establish that there is a close connection between short response time and choices that are clearly a mistake. I then investigate whether a correlation also exists between response time and behavior that is inconsistent with some standard theories of decision making. The lack of such a correlation could be interpreted to imply that such behavior does not reflect a mistake. It is also shown that a typology of slow and fast responders may, in some cases, be more useful than the standard typologies.

    Original languageEnglish (US)
    Pages (from-to)540-551
    Number of pages12
    JournalJudgment and Decision Making
    Volume8
    Issue number5
    StatePublished - Sep 2013

    Keywords

    • Allais paradox
    • Decision problems
    • Mistakes
    • Neuro-economics
    • Reaction time
    • Response time

    ASJC Scopus subject areas

    • Decision Sciences(all)
    • Applied Psychology
    • Economics and Econometrics

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