ArticleExperimental economics2018
The BCD of response time analysis in experimental economics.
Article in Experimental economics, 2018. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 17 papers.
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Who cites it
17 citing papers in PubMed.
- Speed and quality of complex strategic decisions.Proceedings of the National Academy of Sciences of the United States of America · 2026Article
- Deliberation during online bargaining reveals strategic information.Proceedings of the National Academy of Sciences of the United States of America · 2025Article
- Humans can infer social preferences from decision speed alone.PLoS biology · 2024Article
- Specificity and sensitivity of the fixed-point test for binary mixture distributions.Behavior research methods · 2024Article
- Stochastic heuristics for decisions under risk and uncertainty.Frontiers in psychology · 2024Article
- Cognitive-attentional mechanisms of cooperation-with implications for attention-deficit hyperactivity disorder and cognitive neuroscience.Cognitive, affective & behavioral neuroscience · 2023Article
- How to activate intuitive and reflective thinking in behavior research? A comprehensive examination of experimental techniques.Behavior research methods · 2023Article
- The framing of choice nudges prolonged processing in the evaluation of food images.Frontiers in psychology · 2023Article
- Profiling dynamic decision-makers.PloS one · 2022Article
- Contextualised strong reciprocity explains selfless cooperation despite selfish intuitions and weak social heuristics.Scientific reports · 2021Article
- Saccade vigor and the subjective economic value of visual stimuli.Journal of neurophysiology · 2020Article
- Investigating the origin and consequences of endogenous default options in repeated economic choices.PloS one · 2020Article
- Intuition and Deliberation in the Stag Hunt Game.Scientific reports · 2019Article
- A statistical test for the optimality of deliberative time allocation.Psychonomic bulletin & review · 2019Article
- Boundedly rational expected utility theory.Journal of risk and uncertainty · 2018Article
- Influence of learning strategy on response time during complex value-based learning and choice.PloS one · 2018Article
- The BCD of response time analysis in experimental economics.Experimental economics · 2018Article
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2 authors.
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Abstract
For decisions in the wild, time is of the essence. Available decision time is often cut short through natural or artificial constraints, or is impinged upon by the opportunity cost of time. Experimental economists have only recently begun to conduct experiments with time constraints and to analyze response time (RT) data, in contrast to experimental psychologists. RT analysis has proven valuable for the identification of individual and strategic decision processes including identification of social preferences in the latter case, model comparison/selection, and the investigation of heuristics that combine speed and performance by exploiting environmental regularities. Here we focus on the benefits, challenges, and desiderata of RT analysis in strategic decision making. We argue that unlocking the potential of RT analysis requires the adoption of process-based models instead of outcome-based models, and discuss how RT in the wild can be captured by time-constrained experiments in the lab. We conclude that RT analysis holds considerable potential for experimental economics, deserves greater attention as a methodological tool, and promises important insights on strategic decision making in naturally occurring environments.
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