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Information Processing in Decision Making under Time Pressure

The Influence of Action Versus State Orientation
  • Joachim Stiensmeier-Pelster
  • Martin Schürmann

Abstract

Over the past two decades, research on decision making has shown that individuals use a variety of decision-making strategies and that the strategies selected are contingent upon both the characteristics that are inherent in the decision problem itself, such as reversibility, complexity, ambiguity, or unfamiliarity, and the characteristics that describe the decision environment, such as importance and time pressure or time constraints (Beach & Mitchell, 1978; Einhorn & Hogarth, 1981; Ford, Schmitt, Schechtman, Hults, & Doherty, 1989; Payne, 1982. In the study by McAllister, Mitchell, and Beach (1979), for example, people preferred more complex and more accurate strategies when making decisions for which they were accountable and decisions that were irreversible than when making decisions for which they were not accountable and decisions that could be reversed. In the studies by Christensen-Azalanski (1978, 1980), to give another example, subjects used strategies that were more complex, required more information processing, and were more accurate with important decisions than with unimportant decisions.

Keywords

Action Control Time Pressure State Orientation Action Orientation Risky Option 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 1993

Authors and Affiliations

  • Joachim Stiensmeier-Pelster
    • 1
  • Martin Schürmann
    • 1
  1. 1.Abteilung für PsychologieUniversität BielefedBielefeldGermany

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