Reevaluating the concept of time pressure

Research on time-pressured decision making has so far primarily focused on the effects of time constraints on decision quality and processes. Existing studies have investigated the concept of "time horizon" achieved in reported experiments using various discrete time constraints as a time restriction. In this paper we highlight the lack of research on time pressure as a self-imposed and non-discrete aspect of some decision-making scenarios. Based on a review of recent literature we discuss possible directions for research on the impact of time pressure caused by lost opportunities on decision making. The results of study proposed in this paper will not only contribute to decision making theory, but will also be of value for researchers, practitioners and consumers.