Two non-transitive theories to model decision making under risk are regret theory (Loomes and Sugden, 1982, 1987) and … salience theory (Bordalo, Gennaioli, and Shleifer, 2012). While the psychological underpinning of these two approaches is … of choice behavior. We investigate the overlap between these theories and show that original regret theory (Loomes and …

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 …

This paper studies experimentally when and how ideological motives shape group decision-making outcomes. Groups …

Human decision-making differs due to variation in both incentives and available information. This generates substantial … challenges for the evaluation of whether and how machine learning predictions can improve decision outcomes. We propose a … decision maker payoff functions and predictive skill. We apply our framework to the major health policy problem of improving …

Many committees—juries, political task forces, etc.—spend time gathering costly information before reaching a decision … decision accuracies over time. Furthermore, groups using majority rule yield especially hasty and inaccurate decisions …

This paper proposes a simple framework to model contextual influences on procedural decision making. In terms of …