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| Duk gyoo Kim |
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| ''Response time in choosing the most or least preferred option'' |
| ( 2016, Vol. 36 No.1 ) |
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| When a choice yields an uncertain future value, choosing the most preferred among many options is more demanding than excluding one, because the first task requires comparing all the options while the second task requires only finding one stochastically dominant binary relation. Even when a choice does not have any future value, choosing the most preferred one is cognitively costlier than choosing the least preferred. All else being equal, choosing the most preferred option from eight images selected at random takes more time than choosing the least preferred. Also, consistent with binary choice studies, the response time is shorter when preference orders are more distinct. |
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| Keywords: Response time, Cognitive costs |
JEL: D8 - Information, Knowledge, and Uncertainty: General
C9 - Design of Experiments: General |
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| Manuscript Received : Jan 29 2016 | | Manuscript Accepted : Mar 28 2016 |
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