{"title":"Comparison-specific preferences: The attentional dilution effect for delay and risk","authors":"Daniel Read, Rebecca McDonald, Robin Cubitt","doi":"10.1002/bdm.2348","DOIUrl":null,"url":null,"abstract":"<p>In cross-modal decisions, the options differ on many attributes, and in uni-modal decisions, they differ on few. We supply new theory and data to understand how discounting for both delay and risk differs between cross-modal and uni-modal decisions. We propose the attentional dilution effect in decision making in which (a) allocation of limited attention to an attribute determines that attribute's decision weight and (b) the attention an attribute receives is increasing in the difference between options on that attribute and decreasing in the number of other attributes that differ between options. We introduce the <i>random order delayed compensation method</i> and conduct two experiments focusing on delayed and risky receipt of consumer goods. Consistent with the attentional dilution effect, we find that in this domain, patience and risk tolerance are generally higher in cross-modal than uni-modal decisions. We suggest that, since many real-world choices are cross-modal, people may be more patient and risk-tolerant in their everyday life than is suggested by standard lab experiments.</p>","PeriodicalId":48112,"journal":{"name":"Journal of Behavioral Decision Making","volume":null,"pages":null},"PeriodicalIF":1.8000,"publicationDate":"2023-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Behavioral Decision Making","FirstCategoryId":"102","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1002/bdm.2348","RegionNum":3,"RegionCategory":"心理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"PSYCHOLOGY, APPLIED","Score":null,"Total":0}
引用次数: 0
Abstract
In cross-modal decisions, the options differ on many attributes, and in uni-modal decisions, they differ on few. We supply new theory and data to understand how discounting for both delay and risk differs between cross-modal and uni-modal decisions. We propose the attentional dilution effect in decision making in which (a) allocation of limited attention to an attribute determines that attribute's decision weight and (b) the attention an attribute receives is increasing in the difference between options on that attribute and decreasing in the number of other attributes that differ between options. We introduce the random order delayed compensation method and conduct two experiments focusing on delayed and risky receipt of consumer goods. Consistent with the attentional dilution effect, we find that in this domain, patience and risk tolerance are generally higher in cross-modal than uni-modal decisions. We suggest that, since many real-world choices are cross-modal, people may be more patient and risk-tolerant in their everyday life than is suggested by standard lab experiments.
期刊介绍:
The Journal of Behavioral Decision Making is a multidisciplinary journal with a broad base of content and style. It publishes original empirical reports, critical review papers, theoretical analyses and methodological contributions. The Journal also features book, software and decision aiding technique reviews, abstracts of important articles published elsewhere and teaching suggestions. The objective of the Journal is to present and stimulate behavioral research on decision making and to provide a forum for the evaluation of complementary, contrasting and conflicting perspectives. These perspectives include psychology, management science, sociology, political science and economics. Studies of behavioral decision making in naturalistic and applied settings are encouraged.