The attraction effect and its explanations

DOI10.1016/J.GEB.2019.10.012MaRDI QIDQ2291165zbMATH OpenOpenAlexWikidataFDO

Authors Geoffrey Castillo

Publication date 30 January 2020

Published in Games and Economic Behavior (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.geb.2019.10.012

zbMATH Keywords

asymmetric dominance effectattraction effectdecoy effectindividual decision-makingrange effectrisky choice

Mathematics Subject Classification ID

Experimental work for problems pertaining to game theory, economics, and finance (91-05) Decision theory (91B06) Individual preferences (91B08)

Recommendations

• Range-dependent attribute weighting in consumer choice: an experimental test
• A monetary measure of the strength and robustness of the attraction effect
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• Reason-based choice correspondences
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Cites work

• `Regular' choice and the weak axiom of stochastic revealed preference
• A microeconometric test of alternative stochastic theories of risky choice
• A model of focusing in economic choice
• A model of relative thinking
• A monetary measure of the strength and robustness of the attraction effect
• Asymmetric dominance, deferral, and status quo bias in a behavioral model of choice
• Choice by lexicographic semiorders
• Choosing the two finalists
• Concentration bias in intertemporal choice
• Context effects: a representation of choices from categories
• Context-Dependent Preferences
• Experimenter demand effects in economic experiments
• scientific article; zbMATH DE number 3241238 (Why is no real title available?)
• Incomplete preferences under uncertainty: indecisiveness in beliefs versus tastes
• On the strategic use of attention grabbers
• Pairwise normalization: a neuroeconomic theory of multi-attribute choice
• Partially dominant choice
• Rationalization
• Reason-based choice: A bargaining rationale for the attraction and compromise effects
• Stochastic revealed preference and the theory of demand
• The Effect of Attribute Ranges on Weights in Multiattribute Utility Measurements
• The effects of decoy gambles on individual choice
• The perception-adjusted Luce model
• The relevance of irrelevant alternatives
• Two-stage threshold representations

Cited in

(14)

• Reason-based choice correspondences
• A monetary measure of the strength and robustness of the attraction effect
• Aspiration-based choice
• Pairwise normalization: a neuroeconomic theory of multi-attribute choice
• The triple-store experiment: a first simultaneous test of classical and quantum probabilities in choice over menus
• How choice proliferation affects revealed preferences
• Distance from a distance: the robustness of psychological distance effects
• A theoretical investigation on the attraction effect using the elimination-by-aspects model incorporating higher preference for shared features
• Goal-based construction of preferences: task goals and the prominence effect
• A model of relative thinking
• Range-dependent attribute weighting in consumer choice: an experimental test
• Are event-splitting effects actually boundary effects?
• A test of attribute normalization via a double decoy effect
• Small amendment arguments: how they work and what they do and do not show

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