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The Dual-Process Drift Diffusion Model: Evidence From Response Times

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  • Andrew Caplin
  • Daniel Martin

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  • Andrew Caplin & Daniel Martin, 2016. "The Dual-Process Drift Diffusion Model: Evidence From Response Times," Economic Inquiry, Western Economic Association International, vol. 54(2), pages 1274-1282, April.
    • Handle: RePEc:bla:ecinqu:v:54:y:2016:i:2:p:1274-1282
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    File URL: http://hdl.handle.net/10.1111/ecin.12294
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    References listed on IDEAS

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    1. Sen Geng, 2016. "Decision Time, Consideration Time, And Status Quo Bias," Economic Inquiry, Western Economic Association International, vol. 54(1), pages 433-449, January.
    2. Ariel Rubinstein, 2007. "Instinctive and Cognitive Reasoning: A Study of Response Times," Economic Journal, Royal Economic Society, vol. 117(523), pages 1243-1259, October.
    3. Isabelle Brocas & Juan D. Carrillo, 2008. "The Brain as a Hierarchical Organization," American Economic Review, American Economic Association, vol. 98(4), pages 1312-1346, September.
    4. Andrew Caplin & Mark Dean & Daniel Martin, 2011. "Search and Satisficing," American Economic Review, American Economic Association, vol. 101(7), pages 2899-2922, December.
    5. Andrew Schotter & Isabel Trevino, 2021. "Is response time predictive of choice? An experimental study of threshold strategies," Experimental Economics, Springer;Economic Science Association, vol. 24(1), pages 87-117, March.
    6. Kocher, Martin G. & Sutter, Matthias, 2006. "Time is money--Time pressure, incentives, and the quality of decision-making," Journal of Economic Behavior & Organization, Elsevier, vol. 61(3), pages 375-392, November.
    7. Cunningham, Thomas, 2013. "Biases and Implicit Knowledge," MPRA Paper 50292, University Library of Munich, Germany.
    8. Ricardo Alonso & Isabelle Brocas & Juan D. Carrillo, 2014. "Resource Allocation in the Brain," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 81(2), pages 501-534.
    9. Wilcox, Nathaniel T, 1993. "Lottery Choice: Incentives, Complexity and Decision Time," Economic Journal, Royal Economic Society, vol. 103(421), pages 1397-1417, November.
    10. Anja Achtziger & Carlos Alós-Ferrer, 2014. "Fast or Rational? A Response-Times Study of Bayesian Updating," Management Science, INFORMS, vol. 60(4), pages 923-938, April.
    11. Ernst Fehr & Antonio Rangel, 2011. "Neuroeconomic Foundations of Economic Choice--Recent Advances," Journal of Economic Perspectives, American Economic Association, vol. 25(4), pages 3-30, Fall.
    12. Christopher F. Chabris & David Laibson & Carrie L. Morris & Jonathon P. Schuldt & Dmitry Taubinsky, 2009. "The Allocation of Time in Decision-Making," Journal of the European Economic Association, MIT Press, vol. 7(2-3), pages 628-637, 04-05.
    13. Ariel Rubinstein, 2007. "Instinctive and Cognitive Reasoning: Response Times Study," Levine's Bibliography 321307000000001011, UCLA Department of Economics.
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    Citations

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    Cited by:

    1. Ennio Bilancini & Leonardo Boncinelli & Luigi Luini, 2017. "Does Focality Depend on the Mode of Cognition? Experimental Evidence on Pure Coordination Games," Department of Economics University of Siena 771, Department of Economics, University of Siena.
    2. Merkel, Anna & Lohse, Johannes, 2016. "Is fairness intuitive? An experiment accounting for the role of subjective utility differences under time pressure," Working Papers 0627, University of Heidelberg, Department of Economics.
    3. Recalde, María P. & Riedl, Arno & Vesterlund, Lise, 2018. "Error-prone inference from response time: The case of intuitive generosity in public-good games," Journal of Public Economics, Elsevier, vol. 160(C), pages 132-147.
    4. Manzini, Paola & Mariotti, Marco, 2018. "Dual random utility maximisation," Journal of Economic Theory, Elsevier, vol. 177(C), pages 162-182.
    5. Barrafrem, Kinga & Hausfeld, Jan, 2020. "Tracing risky decisions for oneself and others: The role of intuition and deliberation," Journal of Economic Psychology, Elsevier, vol. 77(C).
    6. Huseynov, Samir & Krajbich, Ian & Palma, Marco A., 2018. "No Time to Think: Food Decision-Making under Time Pressure," 2018 Annual Meeting, August 5-7, Washington, D.C. 274135, Agricultural and Applied Economics Association.
    7. Ambroise Descamps & S´ebastien Massoni & Lionel Page, 2017. "Optimal hesitation, an experiment," QuBE Working Papers 048, QUT Business School.
    8. Altmann, Steffen & Grunewald, Andreas & Radbruch, Jonas, 2019. "Passive Choices and Cognitive Spillovers," IZA Discussion Papers 12337, Institute of Labor Economics (IZA).
    9. Leonidas Spiliopoulos & Andreas Ortmann, 2018. "The BCD of response time analysis in experimental economics," Experimental Economics, Springer;Economic Science Association, vol. 21(2), pages 383-433, June.
    10. Balcombe, Kelvin & Fraser, Iain & Williams, Louis & McSorley, Eugene, 2017. "Examining the relationship between visual attention and stated preferences: A discrete choice experiment using eye-tracking," Journal of Economic Behavior & Organization, Elsevier, vol. 144(C), pages 238-257.
    11. Wagner, Valentin, 2022. "Heterogeneous effects of grade framing," Labour Economics, Elsevier, vol. 74(C).
    12. Brocas, Isabelle & Carrillo, Juan D., 2021. "Value computation and modulation: A neuroeconomic theory of self-control as constrained optimization," Journal of Economic Theory, Elsevier, vol. 198(C).
    13. Shaw, Amy & Elizondo, Fabian & Wadlington, Patrick L., 2020. "Reasoning, fast and slow: How noncognitive factors may alter the ability-speed relationship," Intelligence, Elsevier, vol. 83(C).
    14. Ambroise Descamps & Sébastien Massoni & Lionel Page, 2022. "Learning to hesitate," Experimental Economics, Springer;Economic Science Association, vol. 25(1), pages 359-383, February.
    15. Grabiszewski, Konrad & Horenstein, Alex, 2022. "Measuring tree complexity with response times," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 98(C).
    16. Clithero, John A., 2018. "Response times in economics: Looking through the lens of sequential sampling models," Journal of Economic Psychology, Elsevier, vol. 69(C), pages 61-86.
    17. Grabiszewski, Konrad & Horenstein, Alex, 2020. "Effort is not a monotonic function of skills: Results from a global mobile experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 176(C), pages 634-652.

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