Abstract
While prior descriptive research has identified a number of information-processing strategies used by decision makers, the efficiency of subjects' decisions when using these strategies has received little attention. This study examines the relative performance of four decision strategies under differing levels of task complexity. Some strategies are cognitively complex, while others employ simplifying procedures to reduce processing effort. Whether these reduced processing strategies result in less efficient decisions is therefore of interest. Decision accuracy and time taken to make a decision were assessed. Forty-eight professionals employed the strategies at three levels of task complexity. Repeated measures ANOVAs indicated that the more efficient decision makers were those who used a reduced processing strategy such as elimination by aspects when faced with a complex decision task. The decision makers achieved this efficiency by saving time, without losing decision accuracy. Implications and possible extensions of these results are discussed.
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