Abstract
Constraints in resources such as time, money, and information have a strong and systematic influence on choice behavior. Although some of these constraints may occur as natural features of a choice situation, others may be self-imposed by the decision maker, to limit an agonizing deliberation process about a decision problem. It is surprising that despite their prevalent influence, the topic of resource constraints has received little attention in the decision-making literature. For example, only a few studies consider the impact of time pressure on the decision process, and even fewer studies examine the influence of self-imposed time constraints (Mano, 1989). However, the few systematic investigations examining subjects’ judgment and decision-making behavior under time pressure demonstrate that time pressure may affect every stage in a decision process from the information selection, evaluation, and aggregation stages to the actual choice (Busemeyer, 1985; Payne, Bettman, & Johnson, 1988; Svenson & Edland, 1987; Wright, 1974). Effects of time pressure are also reflected by postdecisional variables such as confidence (Smith, Mitchell, & Beach, 1982; Zakay, 1985).
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Böckenholt, U., Kroeger, K. (1993). The Effect of Time Pressure in Multiattribute Binary Choice Tasks. In: Svenson, O., Maule, A.J. (eds) Time Pressure and Stress in Human Judgment and Decision Making. Springer, Boston, MA. https://doi.org/10.1007/978-1-4757-6846-6_14
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DOI: https://doi.org/10.1007/978-1-4757-6846-6_14
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