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Title: TIME IS NOT MONEY

Authors: Enrique Fatas

Abstract:

The analysis of time response is an inexpensive methodology to understand cognitive processes in decision making. In this paper we study time responses in a variety of games and two different sets of experiments. In the first one (within subjects), all participants go through the same sequence of repeated games. In addition, they complete five attitudinal tests and an in-deep socioeconomic questionnaire. In the second study (between subjects), individuals participate only in one experiment. Our results suggest that subjects strongly vary their response times depending on the nature of the game (social vs. competitive). Moreover, decisions and time responses seem to be strongly related in a non linear way. While gender plays a role (women make decisions significantly faster than men), most of the other individual features have no systematic impact.