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Published on: August 25, 2023
Time Pressure Affects the Risk Preference and Outcome Evaluation
Chiuhsiang Joe Lin1, Huiqiao Jia1,2
1Department of Industrial Management, National Taiwan University of Science and Technology, Taipei 106335, Taiwan.
Abstract:
It is ubiquitous that food delivery riders do not have unlimited periods of time for deliberation to make decisions. Time pressure plays a significant role in decision-making processes. This study investigated how time pressure affected risk preference and outcome evaluation through behavioral and electrophysiological responses during decision-making. Participants finished a simple gambling task under three different time constraint conditions (high/medium/low). Behavioral and event-related potentials (ERPs) data were recorded during the experiment. The results showed that the decision time of people was shorter under high time pressure than under medium and low time pressures. People tend to make more risky choices when under high time pressure. The feedback-related negativity (FRN) amplitude was smaller in the high time pressure than in medium and low time pressure conditions. These findings provided evidence that time pressure has an impact on the risk decision-making process.
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