The dynamics of deferred decision, experimental data

Bhatia, Sudeep (2017). The dynamics of deferred decision, experimental data. [Data Collection]. Colchester, Essex: UK Data Archive. 10.5255/UKDA-SN-852829

This network project brings together economists, psychologists, computer and complexity scientists from three leading centres for behavioural social science at Nottingham, Warwick and UEA. This group will lead a research programme with two broad objectives: to develop and test cross-disciplinary models of human behaviour and behaviour change; to draw out their implications for the formulation and evaluation of public policy.
Foundational research will focus on three inter-related themes: understanding individual behaviour and behaviour change; understanding social and interactive behaviour; rethinking the foundations of policy analysis.
The project will explore implications of the basic science for policy via a series of applied projects connecting naturally with the three themes. These will include: the determinants of consumer credit behaviour; the formation of social values; strategies for evaluation of policies affecting health and safety.
The research will integrate theoretical perspectives from multiple disciplines and utilise a wide range of complementary methodologies including: theoretical modeling of individuals, groups and complex systems; conceptual analysis; lab and field experiments; analysis of large data sets.
The Network will promote high quality cross-disciplinary research and serve as a policy forum for understanding behaviour and behaviour change.

Data description (abstract)

Decision makers are often unable to choose between the options that they are offered. In these settings they typically defer their decision, that is, delay the decision to a later point in time or avoid the decision altogether. In this paper, we outline eight behavioral findings regarding the causes and consequences of choice deferral that cognitive theories of decision making should be able to capture. We show that these findings can be accounted for by a deferral-based time limit applied to existing sequential sampling models of preferential choice. Our approach to modeling deferral as a time limit in a sequential sampling model also makes a number of novel predictions regarding the interactions between choice probabilities, deferral probabilities, and decision times, and we confirm these predictions in an experiment. Choice deferral is a key feature of everyday decision making, and our paper illustrates how established theoretical approaches can be used to understand the cognitive underpinnings of this important behavioral phenomenon.

Downloads

Altmetric