Differences Attract: An Experimental Study of Focusing in Economic Choice

Ola Andersson, Jim Ingebretsen Carlson, Erik Wengström

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Sammanfattning

Several behavioral 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.
OriginalspråkEngelska
Artikelnummerueab032
Referentgranskad vetenskaplig tidskriftThe Economic Journal
Antal sidor36
ISSN0013-0133
DOI
StatusE-version före tryckt - 16.04.2021
MoE-publikationstypA1 Originalartikel i en vetenskaplig tidskrift

Nyckelord

  • 511 Nationalekonomi

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