Differential Attention to Attributes in Utility-theoretic Choice Models
Datum
2008-10
Autor:innen
Zeitschriftentitel
ISSN der Zeitschrift
Bandtitel
Verlag
University of Oregon, Dept of Economics
Zusammenfassung
We show in a theoretical model that benefits of allocating additional attention to evaluating
the marginal attribute with in choice set depend upon the expected utility loss from making a
suboptimal choice as a result of ignoring that incremental attribute. Guided by this analysis, we
then develop a very general and practical empirical method for measuring the individual's
propensity to attend to attributes. As a proof of concept, we offer an empirical example of our
method using a conjoint analysis of demand for programs to reduce health risks. Our results
suggest that respondents differentially allocate attention across attributes, as a function of the
mix of attribute levels in a choice set. This behavior can cause researchers who fail to model
attention allocation to incorrectly estimate the marginal utilities derived from selected attributes.
This illustrative example is a first attempt to implement an attention-corrected choice model with
a sample of field data from a conjoint choice experiment.
Beschreibung
63 p.
Schlagwörter
Attribution (Social psychology)