Replication data for: Speed, Accuracy, and the Optimal Timing of Choices

Philipp Strack, Tomasz Strzalecki & Drew Fudenberg
We model the joint distribution of choice probabilities and decision times in binary decisions as the solution to a problem of optimal sequential sampling, where the agent is uncertain of the utility of each action and pays a constant cost per unit time for gathering information. We show that choices are more likely to be correct when the agent chooses to decide quickly provided that the agent's prior beliefs are correct. This better matches the...
This data repository is not currently reporting usage information. For information on how your repository can submit usage information, please see our documentation.