Time-pressure perception and decision making

Time can be perceived as a resource and contextual factor in the light of time constraints and time pressure. Time constraints are often internally or externally imposed deadlines. The chapter provides a general review of the field of time constraints and decision making, focusing in particular on research published since the mid-2000s. It then presents a comparison of three different models of time pressure perception, namely, ratio model, difference model, and relative difference model. The relative difference model was the best fit for aggregate and individual-level data when participants rated how much time pressure they would feel when facing a task described by the time required and the time available to complete a task. The most recent research in the field has found interesting effects in new application areas of consumer behavior, negotiation, interactive decision making, and ethical decision making.