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The Moderating Role of Decisiveness in the Attraction Effect

Author

Listed:
  • Barokas Guy

    (The Multidisciplinary Decision-Making Research Center, Ruppin Academic Center, Emek Hefer, Israel)

  • Gamliel Eyal

    (Ruppin Academic Center, Emek Hefer, Israel)

Abstract

This study examines decisiveness as a potential moderator of the attraction effect. In an online experiment, we find that even though decisiveness moderates the attraction effect, it also moderates the preference reversal in the absence of a decoy. This suggests that the moderating role of decisiveness in the attraction effect lies, at least partially, in moderating choice reversals unrelated to the decoy. In addition, our findings show that about one-third of the most decisive participants exhibit an attraction effect. These findings are inconsistent with a conceptualization of a moderate attraction effect, arguing that only indecisive agents exhibit the effect. We discuss the theoretical and practical implications of our findings.

Suggested Citation

  • Barokas Guy & Gamliel Eyal, 2023. "The Moderating Role of Decisiveness in the Attraction Effect," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 23(4), pages 1001-1016, October.
    • Handle: RePEc:bpj:bejeap:v:23:y:2023:i:4:p:1001-1016:n:5
    DOI: 10.1515/bejeap-2023-0104
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    More about this item

    Keywords

    attraction effect; asymmetrically dominated alternatives; choice decisiveness; bounded rationality;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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