information a decision maker can acquire, pay attention to, or absorb, via an Information Choice Process (icp). An icp specifies …

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 …

, that is, net marginal utility be zero. The finding can be (and has been) explained by decision error, that is, a failure in … forecasting the well-being consequences of an act of choice. This paper uses the rational-choice decision-error framework to show … observed PEB levels due to decision error, then net marginal SWB from a PEB is increasing in its marginal costs. The ability of …

and decision time. Overall, the data show that more people follow the default if the nudge is made transparent. More … importantly, though, effects of transparency differ depending on whether people are fast or slow in their decision making. In … particular, (only) slow decision makers react more positively (keeping the default) if nudging is made transparent. Moreover, the …

between axioms of decision theory: consistency and preference axioms. We argue that this distinction has been overlooked by … the literature and, as a result, evidence that consistency is a proxy of decision-making ability is often based on …

and decision time. Overall, the data show that more people follow the default if the nudge is made transparent. More … importantly, though, effects of transparency differ depending on whether people are fast or slow in their decision making. In … particular, (only) slow decision makers react more positively (keeping the default) if nudging is made transparent. Moreover, the …

remedy for these shortcomings by developing a dynamical model of procedurally rational decision making. The basic idea of the … model is a feedback loop between experienced utility, decision utility, and activities. In applications of the model, I show …

discussions about regulation of automated decision-making. In an online experiment, we find that 66% of participants prefer … algorithmic to equally accurate human recommendations if the decision is delegated fully. This preference for algorithms increases … by further 7 percentage points if participants are able to monitor and adjust the recommendations before the decision is …