on Risk and Time Pressure: When to Think and When to Do

Carnehl Christoph; Schneider Johannes

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on Risk and Time Pressure: When to Think and When to Do

机译：关于风险和时间压力：何时思考，何时行动

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We study the tradeoff between fundamental risk and time. A time-constrained agent has to solve a problem. She dynamically allocates effort between implementing a risky initial idea and exploring alternatives. Discovering an alternative implies progress that has to be converted to a solution. As time runs out, the chances of converting it in time shrink. We show that the agent may return to the initial idea after having left it in the past to explore alternatives. Our model helps explain so-called false starts. To finish fast, the agent delays exploring alternatives, reducing the overall success probability.

机译：我们研究基本风险和之间的权衡时间。问题。实现风险最初的想法和探索替代方案。进步必须转换成一个解决方案。随着时间的耗尽,转换的机会时间减少。最初的想法后过去了探索替代。所谓的错误的开始。延迟探索替代,减少整体的成功概率。

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《Journal of the European Economic Association》 |2023年第1期|1-47|共47页
作者
Carnehl Christoph; Schneider Johannes;
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Bocconi Univ;

Univ Carlos III Madrid;

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正文语种英语
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on Risk and Time Pressure: When to Think and When to Do

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