We design and implement a novel experimental test of subjective expected utility theory and its generalizations. Our … function, but not with subjective utility theory. The theory is tested by gauging how subjects respond to price changes. A … majority of subjects respond to price changes in the direction predicted by the theory, but not to a degree that makes them …

thereby distort optimal search. In addition, urgency may alter decision-making processes and thereby the salience of regret … interaction on search behavior in a pre-registered, theory-based, and well-powered experiment. Empirically, we and that … systematic adjustments in search length. Urgency reduces decision times and perceived decision quality, but does not generally …

deviation (in beliefs, utility, or perceived prices) is within e of expected utility theory. The number e can then be used as a … distance to the theory. We apply our methodology to three recent large-scale experiments. Many subjects in those experiments …

The adoption decision for durable goods is intertemporal by definition. However, estimating utility and discount …

This paper presents an empirical investigation of the relation between decision speed and decision quality for a real …-by-move data provide exceptionally detailed and precise information about decision times and decision quality, based on a … with the predictions of procedural decision models like drift-diffusion-models in which decision makers sequentially …