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Part 1: Document Description
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Citation |
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Title: |
Tempus Fugit: Time Pressure in Risky Decisions [Dataset] |
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Identification Number: |
doi:10.11588/data/10006 |
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Distributor: |
heiDATA |
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Date of Distribution: |
2014-06-20 |
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Version: |
2 |
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Bibliographic Citation: |
Kocher, Martin G.; Pahlke, Julius; Trautmann, Stefan T., 2014, "Tempus Fugit: Time Pressure in Risky Decisions [Dataset]", https://doi.org/10.11588/data/10006, heiDATA, V2 |
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Citation |
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Title: |
Tempus Fugit: Time Pressure in Risky Decisions [Dataset] |
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Identification Number: |
doi:10.11588/data/10006 |
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Authoring Entity: |
Kocher, Martin G. |
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Pahlke, Julius |
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Trautmann, Stefan T. (Alfred-Weber-Institute of Economics) |
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Producer: |
Kocher, Martin G. |
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Pahlke, Julius |
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Trautmann, Stefan T. |
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Date of Production: |
2013 |
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Distributor: |
heiDATA |
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Distributor: |
HeiDATA: Heidelberg Research Data Repository |
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Access Authority: |
Trautmann, Stefan T. |
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Date of Deposit: |
2014-05-26 |
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Holdings Information: |
https://doi.org/10.11588/data/10006 |
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Study Scope |
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Keywords: |
Social Sciences, time pressure, risk aversion, loss aversion, gain seeking, aspiration levels |
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Abstract: |
We study the effects of time pressure on risky decisions for pure gain prospects, pure loss prospects, and mixed prospects involving both gains and losses. In two experiments we find that time pressure has no effect on risk attitudes for gains, but increases risk aversion for losses. For mixed prospects, subjects become simultaneously more loss averse and more gain seeking under time pressure, depending on the framing of the prospects. The results suggest the importance of aspiration levels, and thus the overall probability to break even, under time pressure. We discuss the implications of our findings for decision-making situations that involve time pressure. |
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Methodology and Processing |
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Sources Statement |
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Data Access |
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Other Study Description Materials |
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Related Publications |
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Citation |
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Title: |
Martin G. Kocher, Julius Pahlke, Stefan T. Trautmann (2013) Tempus Fugit: Time Pressure in Risky Decisions. Management Science 59(10):2380-2391. http://dx.doi.org/10.1287/mnsc.2013.1711 |
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Bibliographic Citation: |
Martin G. Kocher, Julius Pahlke, Stefan T. Trautmann (2013) Tempus Fugit: Time Pressure in Risky Decisions. Management Science 59(10):2380-2391. http://dx.doi.org/10.1287/mnsc.2013.1711 |
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do_experiment1.do |
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text/x-stata-syntax; charset=US-ASCII |
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do_experiment2.do |
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text/x-stata-syntax; charset=US-ASCII |
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onlinematerial_MS-FINAL.pdf |
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Text: |
experimental instructions |
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Notes: |
application/pdf |
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ReadmeData.pdf |
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Notes: |
application/pdf |
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timepressMSdata.xlsx |
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Notes: |
application/octet-stream |