How Irrelevant Alternatives Influence Choices: Cognitive
Reflection Related to Decoy Effect

a 2016

How Irrelevant Alternatives Influence Choices: Cognitive Reflection Related to Decoy Effect

ĎURINÍK, Michal

Základní údaje

Originální název

How Irrelevant Alternatives Influence Choices: Cognitive Reflection Related to Decoy Effect

Autoři

ĎURINÍK, Michal

Vydání

The 6th Xiamen University International Workshop on Experimental Economics, 2016

Další údaje

Jazyk

angličtina

Typ výsledku

Konferenční abstrakt

Obor

50200 5.2 Economics and Business

Stát vydavatele

Čína

Utajení

není předmětem státního či obchodního tajemství

Odkazy

URL

Organizační jednotka

Ekonomicko-správní fakulta

Klíčová slova anglicky

Cognitive reflection; alternatives; choice; System 1; System 2

Příznaky

Mezinárodní význam, Recenzováno

Změněno: 14. 1. 2017 12:17, Ing. Bc. Michal Ďuriník, Ph.D.

Anotace

V originále

An alternative that nobody finds attractive: how can it change our decisions? Violating the Independence from Irrelevant Alternatives axiom, decoy options included in choice sets may induce preference shifts. As noted by Pettibone and Wedell (2000), a person may be indifferent between A and B in pairwise choice, but she may strongly prefer A over B in a trinary choice that also includes decoy. Two types of decoys can be constructed: Dominated (D) decoy, that is inferior to A, and Nearly Dominated (ND) decoy, that is significantly worse than A in one attribute and only slightly better than A in the other attribute. This experiment investigates the conjecture of Dhar and Gorlin (2013) that D-decoys and ND-decoys operate within different processes: D-decoy utilizing System 1 and ND-decoy utilizing System 2. Employing Cognitive Reflection Test I find the degree of System 1 / System 2 engagement to predict D-decoy performance significantly (the higher System 2 engagement, the lower decoy success rate). I observe no such relation for ND-decoy performance, though. This suggests that D and ND decoys do, as hypothesized, operate within different cognitive processes.

Návaznosti

MUNI/A/1021/2015, interní kód MU

Název: Behaviorálně ekonomické experimenty v marketingu a managementu

Investor: Masarykova univerzita, Behaviorálně ekonomické experimenty v marketingu a managementu, DO R. 2020_Kategorie A - Specifický výzkum - Studentské výzkumné projekty

Citovat

ĎURINÍK, Michal. How Irrelevant Alternatives Influence Choices: Cognitive Reflection Related to Decoy Effect. In The 6th Xiamen University International Workshop on Experimental Economics. 2016.

@proceedings{1367764,
   author = {Ďuriník, Michal},
   booktitle = {The 6th Xiamen University International Workshop on Experimental Economics},
   keywords = {Cognitive reflection; alternatives; choice; System 1; System 2},
   language = {eng},
   title = {How Irrelevant Alternatives Influence Choices: Cognitive Reflection Related to Decoy Effect},
   url = {http://wise.xmu.edu.cn/Meetings/Experimental2016/Program},
   year = {2016}
}

TY  - CONF
ID  - 1367764
AU  - Ďuriník, Michal
PY  - 2016
TI  - How Irrelevant Alternatives Influence Choices: Cognitive Reflection Related to Decoy Effect
KW  - Cognitive reflection
KW  - alternatives
KW  - choice
KW  - System 1
KW  - System 2
UR  - http://wise.xmu.edu.cn/Meetings/Experimental2016/Program
L2  - http://wise.xmu.edu.cn/Meetings/Experimental2016/Program
N2  - An alternative that nobody finds attractive: how can it change our decisions? Violating the Independence from Irrelevant Alternatives axiom, decoy options included in choice sets may induce preference shifts. As noted by Pettibone and Wedell (2000), a person may be indifferent between A and B in pairwise choice, but she may strongly prefer A over B in a trinary choice that also includes decoy. Two types of decoys can be constructed: Dominated (D) decoy, that is inferior to A, and Nearly Dominated (ND) decoy, that is significantly worse than A in one attribute and only slightly better than A in the other attribute. This experiment investigates the conjecture of Dhar and Gorlin (2013) that D-decoys and ND-decoys operate within different processes: D-decoy utilizing System 1 and ND-decoy utilizing System 2. Employing Cognitive Reflection Test I find the degree of System 1 / System 2 engagement to predict D-decoy performance significantly (the higher System 2 engagement, the lower decoy success rate). I observe no such relation for ND-decoy performance, though. This suggests that D and ND decoys do, as hypothesized, operate within different cognitive processes.
ER  -

ĎURINÍK, Michal. How Irrelevant Alternatives Influence Choices: Cognitive Reflection Related to Decoy Effect. In \textit{The 6th Xiamen University International Workshop on Experimental Economics}. 2016.

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