ABSTRACT
Time pressure While there are several different ways to study the role of cognitive resources allocated to a decision making task, the most prevalent method is one of time pressure. If optimal choices are defined by choosing the alternative with the highest value, i.e., using the compensatory linear strategy (e.g., Payne et al., 1988; Zakay, 1985; Zakay & Wooler, 1984), under time pressure subjects choose less optimally. It appears that time pressure leads to usage of simpler decision rules (see Payne et al., 1988; Svenson, Edland & Slovic, 1990). This is in line with Bettman et. al. (1990) who examined decision strategies as a function of effort. Specifically, strategies that are based on combinations of all informational items are much more time consuming, and demand greater amounts of effort than strategies that are based on assessments of certain dimensions only.
