While I am not aware of actual research in this area, there are some definite reasons why you would use one over the other.
One big factor is time. A military commander does not have time to follow a rigid model or use a decision matrix. He must make a decision quickly or jeopardize his mission. The same is true of athletes or anyone that in a time critical position. Experience is what decisions are based on in these situations.
Now if you have more time, then you can use formal decision models and decision matrices to make logical thought out decisions.
