Investing, busy and fast

Yan LI, Feng WU, Yingxin ZHANG

Research output: Other Conference ContributionsPosterResearchpeer-review

Abstract

People have limited attention, especially when getting busy. They also possess a capability of fast thinking that requires little, if any, attention. Are people more prone to fast thinking when their attention becomes more limited, e.g., due to escalated busyness? We examine this issue using novel non-experimental data from an online peer-to-peer lending market in China. From over 4.6 million investment decisions, we document a substantial amount of instant loan bids (i.e., those confirmed within only a few seconds) which help identify the fast-thinking mode in real economic decision-making. We find that bids placed within busy working hours with more attention constraint are associated with a significantly higher likelihood of being instant, suggesting that limited attention increases the propensity of fast thinking.
Original languageEnglish
Publication statusPublished - 4 Jan 2019
Externally publishedYes
EventAllied Social Science Associations 2019 Annual Meeting - Atlanta , United States
Duration: 4 Jan 20196 Jan 2019
https://www.aeaweb.org/conference/2019

Conference

ConferenceAllied Social Science Associations 2019 Annual Meeting
CountryUnited States
CityAtlanta
Period4/01/196/01/19
Internet address

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Cite this

LI, Y., WU, F., & ZHANG, Y. (2019). Investing, busy and fast. Poster session presented at Allied Social Science Associations 2019 Annual Meeting, Atlanta , United States.