MDFT account of decision making under time pressure.
In this paper, decision making under time pressure for multiattribute choice alternatives in a risky environment is investigated. A model, multiattribute decision field theory (MDFT), is introduced that describes both the dynamic and the stochastic nature of decision making and accounts for the observed changes in choice probabilities, including preference reversals as a function of time limit. An experiment in which five different time limits were imposed on the decision maker is presented to test the predictions of the model. It is shown that MDFT is able to account for the complex decision behavior observed in the data. Furthermore, MDFT is compared with the predictions of decision field theory (Busemeyer & Townsend, 1993; Roe, Busemeyer, & Townsend, 2001).
Diederich
Adele
A
School of Humanities and Social Sciences, International University Bremen, Bremen, Germany. a.diederich@iu-bremen.de
D000328:Adult; D001288:Attention; D002755:Choice Behavior; D003657:Decision Making; D003662:Decision Theory; D005260:Female; D006801:Humans; D007206:Individuality; D008297:Male; D009042:Motivation; D011337:Probability Learning; D011930:Reaction Time; D012737:Sex Factors; D013269:Stochastic Processes