IDEAS home Printed from https://ideas.repec.org/p/arx/papers/2408.06048.html
   My bibliography  Save this paper

Hungry Professors? Decision Biases Are Less Widespread than Previously Thought

Author

Listed:
  • Katja Bergonzoli
  • Laurent Bieri
  • Dominic Rohner
  • Christian Zehnder

Abstract

In many situations people make sequences of similar, but unrelated decisions. Such decision sequences are prevalent in many important contexts including judicial judgments, loan approvals, college admissions, and athletic competitions. A growing literature claims that decisions in such sequences may be severely biased because decision outcomes seem to be systematically affected by the scheduling. In particular, it has been argued that mental depletion leads to harsher decisions before food breaks and that the ``law of small numbers'' induces decisions to be negatively auto-correlated (i.e. favorable decisions are followed by unfavorable ones and vice versa). These findings have attracted much academic and media attention and it has been suspected that they may only represent the ``tip of the iceberg''. However, voices of caution point out that existing studies may suffer from serious limitations, because the decision order is not randomly determined, other influencing factors are hard to exclude, or direct evidence for the underlying mechanisms is not available. We exploit a large-scale natural experiment in a context in which the previous literature would predict the presence of scheduling biases. Specifically, we investigate whether the grades of randomly scheduled oral exams in Law School depend on the position of the exam in the sequence. Our rich data enables us to filter-out student, professor, day, and course-specific features. Our results contradict the previous findings and suggest that caution is advised when generalizing from previous studies for policy advice.

Suggested Citation

  • Katja Bergonzoli & Laurent Bieri & Dominic Rohner & Christian Zehnder, 2024. "Hungry Professors? Decision Biases Are Less Widespread than Previously Thought," Papers 2408.06048, arXiv.org.
  • Handle: RePEc:arx:papers:2408.06048
    as

    Download full text from publisher

    File URL: http://arxiv.org/pdf/2408.06048
    File Function: Latest version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Hirshleifer, David & Levi, Yaron & Lourie, Ben & Teoh, Siew Hong, 2019. "Decision fatigue and heuristic analyst forecasts," Journal of Financial Economics, Elsevier, vol. 133(1), pages 83-98.
    2. Ned Augenblick & Scott Nicholson, 2016. "Ballot Position, Choice Fatigue, and Voter Behaviour," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 83(2), pages 460-480.
    3. Daniel Chen & Tobias J. Moskowitz & Kelly Shue, 2016. "Decision-Making under the Gambler's Fallacy: Evidence from Asylum Judges, Loan Officers, and Baseball Umpires," NBER Working Papers 22026, National Bureau of Economic Research, Inc.
    4. Daniel L. Chen & Tobias J. Moskowitz & Kelly Shue, 2016. "Decision Making Under the Gambler’s Fallacy: Evidence from Asylum Judges, Loan Officers, and Baseball Umpires," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 131(3), pages 1181-1242.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. James E. Archsmith & Anthony Heyes & Matthew J. Neidell & Bhaven N. Sampat, 2021. "The Dynamics of Inattention in the (Baseball) Field," NBER Working Papers 28922, National Bureau of Economic Research, Inc.
    2. Artiga González, Tanja & Calluzzo, Paul & Granic, Georg D., 2023. "Ballot order effects in independent director elections," Journal of Behavioral and Experimental Finance, Elsevier, vol. 39(C).
    3. repec:jdm:journl:v:17:y:2022:i:6:p:1176-1207 is not listed on IDEAS
    4. repec:cup:judgdm:v:17:y:2022:i:6:p:1176-1207 is not listed on IDEAS
    5. Shroff, Ravi & Vamvourellis, Konstantinos, 2022. "Pretrial release judgments and decision fatigue," LSE Research Online Documents on Economics 117579, London School of Economics and Political Science, LSE Library.
    6. Emil Persson & Kinga Barrafrem & Andreas Meunier & Gustav Tinghög, 2019. "The effect of decision fatigue on surgeons' clinical decision making," Health Economics, John Wiley & Sons, Ltd., vol. 28(10), pages 1194-1203, October.
    7. Chen, Daniel L. & Philippe, Arnaud, 2023. "Clash of norms judicial leniency on defendant birthdays," Journal of Economic Behavior & Organization, Elsevier, vol. 211(C), pages 324-344.
    8. Alejandro Núnez Arroyo, 2018. "Information seeking with selective memory," Documentos CEDE 17131, Universidad de los Andes, Facultad de Economía, CEDE.
    9. Payzan-LeNestour, Elise & Pradier, Lionnel & Putniņš, Tālis J., 2023. "Biased risk perceptions: Evidence from the laboratory and financial markets," Journal of Banking & Finance, Elsevier, vol. 154(C).
    10. Jens Ludwig & Sendhil Mullainathan, 2021. "Fragile Algorithms and Fallible Decision-Makers: Lessons from the Justice System," Journal of Economic Perspectives, American Economic Association, vol. 35(4), pages 71-96, Fall.
    11. Jonas Radbruch & Amelie Schiprowski, 2020. "Interview Sequences and the Formation of Subjective Assessments," ECONtribute Discussion Papers Series 045, University of Bonn and University of Cologne, Germany.
    12. Maria R. Ibanez & Michael W. Toffel, 2020. "How Scheduling Can Bias Quality Assessment: Evidence from Food-Safety Inspections," Management Science, INFORMS, vol. 66(6), pages 2396-2416, June.
    13. Jonas Hjort & Diana Moreira & Gautam Rao & Juan Francisco Santini, 2021. "How Research Affects Policy: Experimental Evidence from 2,150 Brazilian Municipalities," American Economic Review, American Economic Association, vol. 111(5), pages 1442-1480, May.
    14. Jiao, Yawen, 2024. "Managing decision fatigue: Evidence from analysts’ earnings forecasts," Journal of Accounting and Economics, Elsevier, vol. 77(1).
    15. James Wang, 2020. "Screening soft information: evidence from loan officers," RAND Journal of Economics, RAND Corporation, vol. 51(4), pages 1287-1322, December.
    16. Duc Duy Nguyen & Steven Ongena & Shusen Qi & Vathunyoo Sila, 2022. "Climate Change Risk and the Cost of Mortgage Credit [Does climate change affect real estate prices? Only if you believe in it]," Review of Finance, European Finance Association, vol. 26(6), pages 1509-1549.
    17. Chen, Daniel L. & Halberstam, Yosh & Yu, Alan, 2016. "Covering: Mutable Characteristics and Perceptions of (Masculine) Voice in the U.S. Supreme Court," IAST Working Papers 16-38, Institute for Advanced Study in Toulouse (IAST), revised Feb 2020.
    18. Benjamin Radoc, 2020. "Bandit with similarity information," Department of Economics, Ateneo de Manila University, Working Paper Series 202002, Department of Economics, Ateneo de Manila University.
    19. Maximilian Späth & Daniel Goller, 2023. "Gender differences in investment reactions to irrelevant information," CEPA Discussion Papers 67, Center for Economic Policy Analysis.
    20. Shrestha, Maheshwor, 2019. "Death scares: How potential work-migrants infer mortality rates from migrant deaths," Journal of Development Economics, Elsevier, vol. 141(C).
    21. Benjamin Enke & Uri Gneezy & Brian Hall & David Martin & Vadim Nelidov & Theo Offerman & Jeroen van de Ven, 2020. "Cognitive Biases: Mistakes or Missing Stakes?," CESifo Working Paper Series 8168, CESifo.
    22. Anna Bindler & Randi Hjalmarsson, 2019. "Path Dependency in Jury Decision Making," Journal of the European Economic Association, European Economic Association, vol. 17(6), pages 1971-2017.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arx:papers:2408.06048. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: arXiv administrators (email available below). General contact details of provider: http://arxiv.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.