Are Intuitive Decisions Always Disadvantageous? A study of response time in decision-making under risk

Abstract

Intuition is a fast expanding topic in today's economic and psychological literature. However, no concensus has been reached concerning its value in decision making. To investigate the relevance of intuitive choices in decision - making under risk, we conducted an experiment on 154 French high-school students from 3 different academies in the Ile-de-France department. Using response time as a proxy for intuition, we found that on average decisions made intuitively yielded results as beneficial as or even more so than decisions made analytically for most choices