- 14:00 - 15:00
- Dr Emmanouil Konstantinidis
- Leeds University Business School, Maurice Keyworth Building, Room 1.03
- Who can attend:
- Staff, students, alumni and external guests
The decision dynamics of risky intertemporal choice: Preference accumulation, path dependency and delayed optimism
Dr Emmanouil Konstantinidis, lecturer at Leeds University Business School, will be delivering the third presentation in the Centre for Decision Research’s 2017/18 seminar series.
Previous research on the effects of probability (risk) and delay on decision-making has focused on examining each dimension separately, hence little is known about when these dimensions are combined into a single choice option.
Emmanouil Konstantinidis and colleagues attempted a threefold decomposition of the cognitive, psychological and normative/descriptive underpinnings of risky intertemporal choice. This included the application of sequential accumulator modelling (the Linear Ballistic Accumulator; LBA) and the use of process-tracing experimental designs. They examined the order in which information is acquired (payoff, probability, delay), transitions between information items and how preferences are constructed across time.
The results point towards a heuristic and dimension-wise evaluation of risky and delayed prospects. The research team used these observations to inform the development of a process model for risky intertemporal choice (PRITCH: Process Risky InterTemporal CHoice). Their work also provided novel experimental and behavioural directions for the study of the combined effect of risk and delay on preferential choice.
For further information, please contact the Research Office at research.LUBS@leeds.ac.uk