Time is money - Time pressure, incentives, and the quality of decision-making

Many decisions in economics and finance have to be made under severe time pressure. Furthermore, payoffs frequently depend on the speed of decision-making, like, for instance, when buying and selling stocks. In this paper, we examine the influence of time pressure and time-dependent incentive schemes on the quality of decision-making in an experimental beauty-contest game. (...)

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Year of publication:	2004
Authors:	Kocher, Martin ; Sutter, Matthias
Institutions:	Max-Planck-Institut für Ökonomik <Jena> / Abteilung Strategische Interaktion
Subject:	Eingeschränkte Rationalität \| Entscheidung \| Prämienlohn \| rank incentives \| Zeitdruck \| Time Pressure

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Extent:	558080 bytes 18 p. application/pdf
Series:	Max-Planck-Institut für Ökonomik - Abteilung für Strategische Interaktion - Discussion Papers on Strategic Interaction Discussion Papers on Strategic Interaction ; 5 (2004) Journal of Economic Behavior & Organization,Vol. 61 (2006) 375–392
Type of publication:	Book / Working Paper
Language:	English
Classification:	C72 - Noncooperative Games ; C91 - Laboratory, Individual Behavior ; Forecast, decision making ; Individual Working Papers, Preprints ; Individual Articles ; No country specification
Source:	USB Cologne (business full texts)

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