Resumo

It is noted that several experimental manipulations were conducted to study how the cognitive processing of individuals affects their behavior in decision making in scenarios involving choices, and one of them referred precisely to the manipulation of time in decisions. Other studies applied tasks that addressed the analysis of information made available during the decision-making process. In this way, the latent interest of the scientific community in the variables “time” and “information” in recent developments in decision theory can be perceived.

This article aimed to understand whether there is any difference in the influence of time pressure and additional informations in the decision-making process of more cognitively reflective individuals (analytical) related to less cognitively reflective ones (impulsive). Therefore, this research directs efforts to answer the following question: Is there a difference in the influence of time and information on the performance of individuals, when comparing the decision-making process of those who are more cognitively reflective in relation to those who are cognitively less reflective?

Lohse, Simon and Konrad (2018) mention that the impact of time constraints on decision making has only recently emerged as the focus of economic research. In this way, time is evidenced as an important resource, both for organizations and for society in general. Regarding information, it is seen as raw material for all stages of the decision-making process – intelligence, conception, selection and implementation (Tang & Liao, 2021). Specifically, it is understood that the more useful and relevant such, the greater the chances that the individual will satisfactorily conduct their choices.

Methodologically, a study with an experimental approach was carried out, involving a 2x2 factorial design (Field & Hole, 2003). This research involved a non-probabilistic sample, with 521 undergraduate students of an Education Institution located in the Brazil (covering all courses, shifts, semesters and campi of the institution), collected through the convenience criteria (Cozby, 2003).

As a result, it was identified that more reflective individuals, when pressured by time restriction and in presence of additional informations of financial instructions, demonstrate a higher (better) decision-making performance (confirming H1, H1a, H1b and H1c). Those respective findings may be directly explained by the level of cognitive reflexivity shown by the investigated subjects, that is, when categorized in terms of being more reflective (analytical) or less reflective (impulsive), representing an explanatory mechanism to the differences between the performances.

Therefore, by meeting the proposed objectives, as well as the results evidenced with the theoretical propositions’ test, it was possible to sustain the main argument defended in this study: “The pressure put on the individual by time restriction, as well as the presence of additional information available at the time of the decision-making process, influences in different ways the performance of individuals categorized as more reflective related to less reflective ones.”

- Field, A., & Hole, G. (2003). How to Design and Report Experiments (A. Field (ed.); 1st ed.). Sage Publications Ltd. - Frederick, S. (2005). Cognitive Reflection and Decision Making. Journal of Economic Perspectives, 19 (4), 25–42. - Letmathe, P., & Noll, E. (2021). Effects of time pressure on the amount of information acquired. International Journal of Business Science and Applied Management, 16 (1), 86–132. - Sinayev, A., & Peters, E. (2015). Cognitive reflection vs. calculation in decision making. Frontiers in Psychology , 6 (May), 1–16.