Abstract
Bounded rationality models usually converge in claiming that decision time and the amount of computational steps needed to come to a decision are positively correlated. The empirical evidence for this claim is, however, equivocal. We conducted a study that tests this claim by adding and omitting information. We demonstrate that even an increase in information amount can yield a decrease in decision time if the added information increases coherence in the information set. Rather than being influenced by amount of information, decision time systematically increased with decreasing coherence. The results are discussed with reference to a parallel constraint satisfaction approach to decision making, which assumes that information integration is operated in an automatic, holistic manner.
| Original language | English |
|---|---|
| Pages (from-to) | 532-542 |
| Number of pages | 11 |
| Journal | Acta Psychologica |
| Volume | 139 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - Mar 2012 |
| Externally published | Yes |
Keywords
- Adaptive decision making
- Bounded rationality
- Heuristics
- Holistic processing
- Parallel constraint satisfaction
- Response time
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