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Attentional shifts and preference reversals: An eye-tracking study

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Attentional shifts and preference reversals: An eye-tracking study. / Alós-Ferrer, C.; Jaudas, A.; Ritschel, A.
In: Judgment and Decision Making, Vol. 16, No. 1, 01.01.2021, p. 57-93.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Alós-Ferrer, C, Jaudas, A & Ritschel, A 2021, 'Attentional shifts and preference reversals: An eye-tracking study', Judgment and Decision Making, vol. 16, no. 1, pp. 57-93. https://doi.org/10.1017/S1930297500008305

APA

Alós-Ferrer, C., Jaudas, A., & Ritschel, A. (2021). Attentional shifts and preference reversals: An eye-tracking study. Judgment and Decision Making, 16(1), 57-93. https://doi.org/10.1017/S1930297500008305

Vancouver

Alós-Ferrer C, Jaudas A, Ritschel A. Attentional shifts and preference reversals: An eye-tracking study. Judgment and Decision Making. 2021 Jan 1;16(1):57-93. doi: 10.1017/S1930297500008305

Author

Alós-Ferrer, C. ; Jaudas, A. ; Ritschel, A. / Attentional shifts and preference reversals : An eye-tracking study. In: Judgment and Decision Making. 2021 ; Vol. 16, No. 1. pp. 57-93.

Bibtex

@article{79a3141111834d30a5da4123d4ce7611,
title = "Attentional shifts and preference reversals: An eye-tracking study",
abstract = "The classic preference reversal phenomenon, where monetary evaluations contra-dict risky choices, has been argued to arise due to a focus on outcomes during the evaluation of alternatives, leading to overpricing of long-shot options. Such an ex-planation makes the implicit assumption that attentional shifts drive the phenomenon. We conducted an eye-tracking study to causally test this hypothesis by comparing a treatment based on cardinal, monetary evaluations with a different treatment avoiding a monetary frame. We find a significant treatment effect in the form of a shift in attention toward outcomes (relative to probabilities) when evaluations are monetary. Our evidence suggests that attentional shifts resulting from the monetary frame of evaluations are a driver of preference reversals.",
keywords = "Compatibility hypothesis, Eye-tracking, Preference reversals, Ranking",
author = "C. Al{\'o}s-Ferrer and A. Jaudas and A. Ritschel",
year = "2021",
month = jan,
day = "1",
doi = "10.1017/S1930297500008305",
language = "English",
volume = "16",
pages = "57--93",
journal = "Judgment and Decision Making",
issn = "1930-2975",
publisher = "Society for Judgment and Decision Making",
number = "1",

}

RIS

TY - JOUR

T1 - Attentional shifts and preference reversals

T2 - An eye-tracking study

AU - Alós-Ferrer, C.

AU - Jaudas, A.

AU - Ritschel, A.

PY - 2021/1/1

Y1 - 2021/1/1

N2 - The classic preference reversal phenomenon, where monetary evaluations contra-dict risky choices, has been argued to arise due to a focus on outcomes during the evaluation of alternatives, leading to overpricing of long-shot options. Such an ex-planation makes the implicit assumption that attentional shifts drive the phenomenon. We conducted an eye-tracking study to causally test this hypothesis by comparing a treatment based on cardinal, monetary evaluations with a different treatment avoiding a monetary frame. We find a significant treatment effect in the form of a shift in attention toward outcomes (relative to probabilities) when evaluations are monetary. Our evidence suggests that attentional shifts resulting from the monetary frame of evaluations are a driver of preference reversals.

AB - The classic preference reversal phenomenon, where monetary evaluations contra-dict risky choices, has been argued to arise due to a focus on outcomes during the evaluation of alternatives, leading to overpricing of long-shot options. Such an ex-planation makes the implicit assumption that attentional shifts drive the phenomenon. We conducted an eye-tracking study to causally test this hypothesis by comparing a treatment based on cardinal, monetary evaluations with a different treatment avoiding a monetary frame. We find a significant treatment effect in the form of a shift in attention toward outcomes (relative to probabilities) when evaluations are monetary. Our evidence suggests that attentional shifts resulting from the monetary frame of evaluations are a driver of preference reversals.

KW - Compatibility hypothesis

KW - Eye-tracking

KW - Preference reversals

KW - Ranking

U2 - 10.1017/S1930297500008305

DO - 10.1017/S1930297500008305

M3 - Journal article

VL - 16

SP - 57

EP - 93

JO - Judgment and Decision Making

JF - Judgment and Decision Making

SN - 1930-2975

IS - 1

ER -