ABSTRACT
This chapter presents the results of an empirical study into the effect of complexity on human decision-making, specifically the quality of decision-making. The empirical setting for these investigations is the off-course horse-race betting market in the UK, which holds particular advantages in terms of the grading of complexity, the measurement of decision-related variables and its naturalistic setting. The research complements earlier work on complexity where a recurring theme has been the understanding of the cognitive processes associated with solving complex problems, by measuring the extent to which task complexity affects performance.
