Adding risk to waiting decisions increases impatience and indecision, study finds.
Short waits are common in daily life, and this study looked at how risk affects decisions involving short waits. By using a task that measures the impact of risk on choices and can detect changes in preferences during waiting, the researchers found that adding uncertainty to outcomes doesn't change preferences for waiting for a reward, but reduces willingness to wait for loss reduction. Uncertainty increases the likelihood of changing decisions while waiting. Additionally, there was no difference in decision-making between gains and losses in risky choices.