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Decision making under time pressure: an independent test of sequential sampling models

Decision making under time pressure: an independent test of sequential sampling models
Decision making under time pressure: an independent test of sequential sampling models
Choice probability and choice response time data from a risk-taking decision-making task were compared with predictions made by a sequential sampling model. The behavioral data, consistent with the model, showed that participants were less likely to take an action as risk levels increased, and that time pressure did not have a uniform effect on choice probability. Under time pressure, participants were more conservative at the lower risk levels but were more prone to take risks at the higher levels of risk. This crossover interaction reflected a reduction of the threshold within a single decision strategy rather than a switching of decision strategies. Response time data, as predicted by the model, showed that participants took more time to make decisions at the moderate risk levels and that time pressure reduced response time across all risk levels, but particularly at the those risk levels that took longer time with no pressure. Finally, response time data were used to rule out the hypothesis that time pressure effects could be explained by a fast-guess strategy.
0090-502X
713-725
Dror, Itiel E.
4d907da2-0a2e-41ed-b927-770a70a35c71
Busemeyer, Jerome R.
fad995b6-18fb-4645-83d4-5ccf8de4c34d
Basola, Beth
4548c9c4-7d11-4053-943d-4a6b108004b5
Dror, Itiel E.
4d907da2-0a2e-41ed-b927-770a70a35c71
Busemeyer, Jerome R.
fad995b6-18fb-4645-83d4-5ccf8de4c34d
Basola, Beth
4548c9c4-7d11-4053-943d-4a6b108004b5

Dror, Itiel E., Busemeyer, Jerome R. and Basola, Beth (1999) Decision making under time pressure: an independent test of sequential sampling models. Memory & Cognition, 27 (4), 713-725.

Record type: Article

Abstract

Choice probability and choice response time data from a risk-taking decision-making task were compared with predictions made by a sequential sampling model. The behavioral data, consistent with the model, showed that participants were less likely to take an action as risk levels increased, and that time pressure did not have a uniform effect on choice probability. Under time pressure, participants were more conservative at the lower risk levels but were more prone to take risks at the higher levels of risk. This crossover interaction reflected a reduction of the threshold within a single decision strategy rather than a switching of decision strategies. Response time data, as predicted by the model, showed that participants took more time to make decisions at the moderate risk levels and that time pressure reduced response time across all risk levels, but particularly at the those risk levels that took longer time with no pressure. Finally, response time data were used to rule out the hypothesis that time pressure effects could be explained by a fast-guess strategy.

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Published date: 1999

Identifiers

Local EPrints ID: 18349
URI: http://eprints.soton.ac.uk/id/eprint/18349
ISSN: 0090-502X
PURE UUID: 9e2e2389-67f3-4ee8-a264-66138ca06d6a

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Date deposited: 10 Jan 2006
Last modified: 09 Sep 2019 17:56

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Contributors

Author: Itiel E. Dror
Author: Jerome R. Busemeyer
Author: Beth Basola

University divisions

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