When time is money : Decision behavior under opportunity-cost time pressure

@article{Payne1996WhenTI,
  title={When time is money : Decision behavior under opportunity-cost time pressure},
  author={John W. Payne and James R. Bettman and Mary Frances Luce},
  journal={Organizational Behavior and Human Decision Processes},
  year={1996},
  volume={66},
  pages={131-152}
}
Decison-making dilemmas can arise because errors may result either from deciding too soon or from delaying decisions too long. Delay can result in lost opportunities or reductions in payoffs from the most accurate decision. This paper investigates decision processes in environments where there is time stress due to the opportunity cost of delaying decisions. First, using computer simulation, the relative accuracy of alternative decision strategies is examined in environments that differ in… 

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