Detailed Information on Publication Record
2016
Decoy Effect and Cognitive Reflection
ĎURINÍK, MichalBasic information
Original name
Decoy Effect and Cognitive Reflection
Authors
ĎURINÍK, Michal (703 Slovakia, guarantor, belonging to the institution)
Edition
Young Economists' Meeting 2016, 2016
Other information
Language
English
Type of outcome
Prezentace na konferencích
Field of Study
50200 5.2 Economics and Business
Country of publisher
Czech Republic
Confidentiality degree
není předmětem státního či obchodního tajemství
References:
RIV identification code
RIV/00216224:14560/16:00092883
Organization unit
Faculty of Economics and Administration
Keywords in English
cognitive reflection; CRT; decoy effect; choice
Tags
International impact, Reviewed
Změněno: 14/1/2017 10:45, Ing. Bc. Michal Ďuriník, Ph.D.
Abstract
V originále
Violating the Independence from irrelevant alternatives axiom, decoy options in choice sets may induce preference shifts. As noted by Pettibone and Wedell (2000), although a person may be indifferent between X and Y in pairwise choice, he may strongly prefer X over Y in a trinary choice that includes decoy. Two types of decoys can be constructed: Dominated (D-decoys), that are inferior to X, and Nearly Dominated (ND-decoys), significantly worse in one and only slightly better than X in the other attribute. Here, I investigate the conjecture of Dhar and Gorlin (2013) that D and ND decoys operate within different System 1 / 2 processes. In this experiment Cognitive Reflection Test score is negatively related to Dominated Decoy performance and not related to Nearly Dominated Decoy performance. This suggests that D and ND decoys do, as hypothesized, operate within different cognitive processes.
Links
| MUNI/A/1021/2015, interní kód MU |
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