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Speed-accuracy tradeoffs in decision making: Perception shifts and goal activation bias decision thresholds. | LitMetric

AI Article Synopsis

Article Abstract

A fundamental aspect of decision making is the speed-accuracy tradeoff (SAT): slower decisions tend to be more accurate, but because time is a scarce resource people prefer to conclude decisions more quickly. The current research adds to the SAT literature by documenting two previously unrecognized influences on the SAT: perception shifts and goal activation. Decision makers' perceptions of what constitutes a or a decision, and what constitutes an or decision, are based on prior experience, and these perceptions influence decision speed. Similarly, previous experience in a decision context associates the context with a particular decision goal. Thus, in later decisions the decision context will activate this goal, and influence decision speed. Both of these mechanisms contribute to a specific decision bias: decision speeds are biased toward original decision speeds in a decision context. Four experiments provide evidence for the bias and the two contributing mechanisms. (PsycInfo Database Record (c) 2023 APA, all rights reserved).

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http://dx.doi.org/10.1037/xlm0000913DOI Listing

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