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Response Time and Decision Making: A “Free” Experimental Study

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  • Rubinstein, Ariel

Abstract

Response time is used to interpret choice in decision problems. It is first establishes that there is a correlation between short response time and choices that are clearly a mistake. It is then determines 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 is 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 standard typologies.

Suggested Citation

  • Rubinstein, Ariel, 2012. "Response Time and Decision Making: A “Free” Experimental Study," Foerder Institute for Economic Research Working Papers 275782, Tel-Aviv University > Foerder Institute for Economic Research.
    • Handle: RePEc:ags:isfiwp:275782
    DOI: 10.22004/ag.econ.275782
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    2. Oechssler, Jörg & Roomets, Alex, 2015. "A test of mechanical ambiguity," Journal of Economic Behavior & Organization, Elsevier, vol. 119(C), pages 153-162.
    3. Ralf Bergheim & Michael W.M. Roos, 2013. "Intuition and Reasoning in Choosing Ambiguous and Risky Lotteries," Ruhr Economic Papers 0440, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    4. Bergheim, Ralf & Roos, Michael W. M., 2013. "Intuition and Reasoning in Choosing Ambiguous and Risky Lotteries," Ruhr Economic Papers 440, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    5. Migheli, Matteo, 2014. "Reaction Times in a Field Experiment: Is Really All about Instinctiveness," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201424, University of Turin.

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