Irrational time allocation in decision-making

• Published in: Proceedings of the Royal Society. B, Biological sciences Vol. 283; no. 1822; pp. 1 - 8
• Main Authors: Oud, Bastiaan, Krajbich, Ian, Miller, Kevin, Cheong, Jin Hyun, Botvinick, Matthew, Fehr, Ernst
• Format: Journal Article
• Language: English
• Published: THE ROYAL SOCIETY 13.01.2016
• Subjects: Bees; Behavioral neuroscience; Deadlines; Empirical evidence; Human behavior; Insect behavior; Materials; Neuroeconomics; Neurons; Time management

Time is an extremely valuable resource but little is known about the efficiency of time allocation in decision-making. Empirical evidence suggests that in many ecologically relevant situations, decision difficulty and the relative reward from making a correct choice, compared to an incorrect one, ar...