THE DUAL-PROCESS DRIFT DIFFUSION MODEL: EVIDENCE FROM RESPONSE TIMES

被引：35
|
作者：
Caplin, Andrew [1 ,2 ,3 ]
Martin, Daniel [4 ]
机构：
[1] NYU, Ctr Expt Social Sci, Econ, 550 1St Ave, New York, NY 10012 USA
[2] NYU, Dept Econ, 550 1St Ave, New York, NY 10012 USA
[3] Natl Bur Econ Res, New York, NY 10012 USA
[4] Northwestern Univ, Kellogg Sch Management, Managerial Econ & Decis Sci, Evanston, IL 60208 USA
来源：
ECONOMIC INQUIRY | 2016年 / 54卷 / 02期
关键词：
DECISION-MAKING; VISUAL FIXATIONS; CHOICE; BRAIN; INCENTIVES; ALLOCATION; PRESSURE;
D O I：
10.1111/ecin.12294
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We introduce a model of response time and choice that borrows from two distinct psychological traditions. As in dual-process models, rapid (automatic) decisions are qualitatively different from considered decisions. As in the drift diffusion model, delayed (considered) decisions occur when confidence hits a threshold level. We conduct a simple experiment in which our hybrid model matches key properties of the data. As our model predicts, decision times are bimodal, automatic decisions are of far lower quality than considered decisions, and automatic decisions are more prevalent when prior information improves, thereby raising their quality. (JEL D83, D87, C91)
引用
收藏
页码：1274 / 1282
页数：9
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