Differences Attract: An Experimental Study of Focusing in Economic Choice

A-Tier
Journal: Economic Journal
Year: 2021
Volume: 131
Issue: 639
Pages: 2671-2692

Authors (3)

Score contribution per author:

1.341 = (α=2.01 / 3 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

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.

Technical Details

RePEc Handle
repec:oup:econjl:v:131:y:2021:i:639:p:2671-2692.
Journal Field
General
Author Count
3
Added to Database
2026-01-24