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The Impact of a Photo on Decisions

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  • Marek Jenöffy-Lochau

    (Büro am Carlsplatz)

Abstract

Photos are everywhere. They are posted every day on a variety of social networks such as Instagram, Facebook, or Snapchat. Advertisement seeks every day to change behavior using photos. But do photos really change behavior? Photos are non-numerical information. How does a non-numerical information affect a decision? With experiments at Humboldt-University of Berlin, I show an impact of a photo on the behavior of the participants. This impact is difficult to depict in a traditional Bayesian framework. Galperti (2019) requested an economic theory of persuasion that goes beyond Bayesianism. I use this example to introduce the Seesaw Model of a decision. The Seesaw Model such an effect can be implemented into economic theory.

Suggested Citation

  • Marek Jenöffy-Lochau, 2023. "The Impact of a Photo on Decisions," Working Papers hal-04136560, HAL.
    • Handle: RePEc:hal:wpaper:hal-04136560
    Note: View the original document on HAL open archive server: https://hal.science/hal-04136560
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    References listed on IDEAS

    as
    1. Yaari, Menahem E, 1987. "The Dual Theory of Choice under Risk," Econometrica, Econometric Society, vol. 55(1), pages 95-115, January.
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    4. Hausman,Daniel M., 2012. "Preference, Value, Choice, and Welfare," Cambridge Books, Cambridge University Press, number 9781107695122, October.
    5. Simone Galperti, 2019. "Persuasion: The Art of Changing Worldviews," American Economic Review, American Economic Association, vol. 109(3), pages 996-1031, March.
    6. Machina, Mark J, 1982. ""Expected Utility" Analysis without the Independence Axiom," Econometrica, Econometric Society, vol. 50(2), pages 277-323, March.
    Full references (including those not matched with items on IDEAS)

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