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The determinants of decision time in an ambiguous context
Journal of Risk and Uncertainty ( IF 3.977 ) Pub Date : 2024-01-02 , DOI: 10.1007/s11166-023-09417-z
Anna Conte , Gianmarco De Santis , John D. Hey , Ivan Soraperra

This paper builds on the data from a published paper on behaviour under ambiguity (Conte & Hey, 2013)—henceforth C&H—to explore the determinants of decision time. C&H categorized individual subjects as being of one of four types (of decision-maker)—Expected Utility, Smooth Ambiguity, Rank Dependent and Alpha Expected Utility—by using the decisions of the subjects, but did not look at the decision times of the different types. We take as given the categorization identified by C&H, and explore whether the classification can explain the decision times of the subjects. We investigate whether and why different types take a different amount of time to decide. We explore the effects of various features related to (mainly psychological) theories of the process of decision-making—i.e., experience with the task, complexity, closeness to indifference and similarity of the options. Our results show that different types take a similar time to make their decisions on average, but decision times of different types are explained by different features of the decision task. This paper is the first investigating the heterogeneity of decision times based on a classification of subjects into different types in an ambiguous (rather than risky) decision context.



中文翻译:

模糊背景下决策时间的决定因素

本文以已发表的关于模糊行为的论文(Conte & Hey,2013)(以下称为 C&H)的数据为基础,探讨决策时间的决定因素。C&H 通过使用受试者的决策,将个体受试者归类为四种类型(决策者)之一:预期效用、平滑歧义、排名依赖和阿尔法预期效用但没有考虑不同决策者的决策时间。类型。我们将 C&H 确定的分类作为给定的,并探讨该分类是否可以解释受试者的决策时间。我们调查不同类型是否以及为何需要不同的时间来做出决定。我们探讨了与决策过程(主要是心理学)理论相关的各种特征的影响,即任务的经验、复杂性、接近冷漠以及选项的相似性。我们的结果表明,不同类型的决策平均花费相似的时间,但不同类型的决策时间可以通过决策任务的不同特征来解释。本文首次基于模糊(而不是有风险)的决策环境中将受试者分为不同类型来研究决策时间的异质性。

更新日期:2024-01-02
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