Information Search Patterns in Intertemporal Choice Do Not Always Reflect Decision Strategies: An Eye-Tracking Study

Abstract

People usually use either alternative-based or attribute-based decision strategies to make intertemporal choices. While it is appealing to infer such decision strategies from information search patterns, whether the latter can always reflect the former remains unclear. This research examined the potential correspondence between information search patterns and decision strategies in intertemporal choices under three decision conditions. Two of the conditions involved explicit instructions on whether an alternative-based or an attribute-based strategy should be implemented, whereas under the third, free condition, participants were asked to choose solely according to their true preferences. For each condition, alternative- and attribute-based information search patterns were identified based on the numbers of alternative-based and attribute-based transitions in eye movements. For the free condition, decision strategies were inferred by comparing the fitting performance of relevant dynamic models. A clear correspondence was found between information search patterns and decision strategies under the instructed conditions, but this correspondence was apparently lacking in the free condition. These results call into question the general practice of inferring decision strategies from process tracing data. Potential reasons for the revealed dissociation and further research to improve understanding of the correspondence between information search patterns and decision strategies are discussed.