Speed, Accuracy, and the Optimal Timing of Choices

被引：75

作者：

Fudenberg, Drew ^{[1
]}

Strack, Philipp ^{[2
]}

Strzalecki, Tomasz ^{[3
]}

机构：

[1] MIT, Dept Econ, 77 Massachusetts Ave,Bldg E52-418, Cambridge, MA 02139 USA

[2] Univ Calif Berkeley, Dept Econ, Off 513 Evans Hall, Berkeley, CA 94720 USA

[3] Harvard Univ, Dept Econ, 1805 Cambridge St, Cambridge, MA 02138 USA

来源：

AMERICAN ECONOMIC REVIEW | 2018年 / 108卷 / 12期

关键词：

DRIFT-DIFFUSION MODEL; DECISION FIELD-THEORY; VISUAL FIXATIONS; SEARCH; INFORMATION; BEHAVIOR; TIME;

D O I：

10.1257/aer.20150742

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We model the joint distribution of choice probabilities and decision times in binary decisions as the solution to a problem of optimal sequential sampling, where the agent is uncertain of the utility of each action and pays a constant cost per unit time for gathering information. We show that choices are more likely to be correct when the agent chooses to decide quickly, provided the agent's prior beliefs are correct. This better matches the observed correlation between decision time and choice probability than does the classical drift-diffusion model (DDM), where the agent knows the utility difference between the choices.

引用

页码：3651 / 3684

页数：34

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