Erik Wengström
Professor, Studierektor forskarutbildning, Nationalekonomiska institutionen
Differences Attract : An Experimental Study of Focusing in Economic Choice
Författare
Summary, in English
Several behavioural models of choice assume that decision makers place more weight on attributes where options differ more, an assumption we test in a set of experiments. We find that subjects are more likely to choose an option when we add options increasing the maximal difference in the original option's strongest attribute, suggesting that the decision maker's focus is drawn to attributes with a high spread. Additional experiments corroborate this finding. Still, we document that the focusing effect diminishes when options are presented using numbers instead of graphs or when subjects are forced to wait before submitting their answers.
Avdelning/ar
- Lunds universitet
Publiceringsår
2021-10
Språk
Engelska
Sidor
2671-2692
Publikation/Tidskrift/Serie
Economic Journal
Volym
131
Issue
639
Dokumenttyp
Artikel i tidskrift
Förlag
Wiley-Blackwell
Ämne
- Economics
Nyckelord
- C91 - Laboratory
- Individual Behavior
- D03 - Behavioral
- Microeconomics
- Underlying Principles
- D12 - Consumer Economics
- Empirical Analysis
Status
Published
ISBN/ISSN/Övrigt
- ISSN: 0013-0133