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Rex Features
The project, which is set up at Leonardo DiCaprio's Appian Way company, is based on Malcolm Gladwell's book which examines the benefits and drawbacks of making snap decisions.
In the movie version, Pacino will play a financial worker who reconnects with his adult son. Pacino's character discovers his son's ability to make effective fast judgements and uses him to make money on Wall Street.
Blink is expected to move forward once an actor has been found for the son role.
Gaghan is the Oscar-winning writer behind Traffic. He directed the 2002 movie Abandon and George Clooney's Syriana in 2006.
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