Response-time data provide critical constraints on dynamic models of multi-alternative, multi-attribute choice

Abstract

Understanding the cognitive processes involved in multi-alternative, multi-attribute choice is of interest to a wide range of fields including psychology, neuroscience, and economics. Prior investigations in this domain have relied primarily on choice data to compare different theories. Despite numerous such studies, results have largely been inconclusive. Our study uses state-of-the-art response-time modeling and data from 12 different experiments appearing in six different published studies to compare four previously proposed theories/models of these effects: multi-alternative decision field theory (MDFT), the leaky-competing accumulator (LCA), the multi-attribute linear ballistic accumulator (MLBA), and the associative accumulation model (AAM). All four models are, by design, dynamic process models and thus a comprehensive evaluation of their theoretical properties requires quantitative evaluation with both choice and response-time data. Our results show that response-time data is critical at distinguishing among these models and that using choice data alone can lead to inconclusive results for some datasets. In conclusion, we encourage future research to include response-time data in the evaluation of these models.

Keywords: Bayesian methods; Context effects; Decision-making; Multi-attribute choice.