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Reaction Times in a Field Experiment: Is Really All about Instinctiveness

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Abstract

Several papers in experimental economics use reaction times (RTs) to assess whether a decision is instinctive or not. This paper analyses a field experiment (the behaviour of athletes at the World Swimming Championships) in three steps, where only the (expected) payoff changes (i.e. increases) from one step to the next. The payoff depends on the time of the race, of which the RT is part. Considering, for each competition, a homogeneous sample of swimmers, the paper shows that RTs decrease as the expected payoff increase. The observed reductions are comparable in magnitude to those observed in other experiments, where conscious/cognitive process are induced (or, at least, present). The paper concludes claiming that a share of the observed RTs is determined through a cognitive process, and therefore RTs are not pure measures of instinctiveness.

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  • Migheli, Matteo, 2014. "Reaction Times in a Field Experiment: Is Really All about Instinctiveness," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201424, University of Turin.
    • Handle: RePEc:uto:dipeco:201424
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    1. Ariel Rubinstein, 2007. "Instinctive and Cognitive Reasoning: A Study of Response Times," Economic Journal, Royal Economic Society, vol. 117(523), pages 1243-1259, October.
    2. Piovesan, Marco & Wengström, Erik, 2009. "Fast or fair? A study of response times," Economics Letters, Elsevier, vol. 105(2), pages 193-196, November.
    3. Arad, Ayala & Rubinstein, Ariel, 2012. "Multi-dimensional iterative reasoning in action: The case of the Colonel Blotto game," Journal of Economic Behavior & Organization, Elsevier, vol. 84(2), pages 571-585.
    4. Brown, Thomas C. & Kingsley, David & Peterson, George L. & Flores, Nicholas E. & Clarke, Andrea & Birjulin, Andrej, 2008. "Reliability of individual valuations of public and private goods: Choice consistency, response time, and preference refinement," Journal of Public Economics, Elsevier, vol. 92(7), pages 1595-1606, July.
    5. Rubinstein, Ariel, 2001. "A theorist's view of experiments," European Economic Review, Elsevier, vol. 45(4-6), pages 615-628, May.
    6. Rubinstein, Ariel, 2012. "Response Time and Decision Making: A “Free” Experimental Study," Foerder Institute for Economic Research Working Papers 275782, Tel-Aviv University > Foerder Institute for Economic Research.
    7. Ariel Rubinstein, 2007. "Instinctive and Cognitive Reasoning: Response Times Study," Levine's Bibliography 321307000000001011, UCLA Department of Economics.
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