Tracking Decision Makers under Uncertainty

Amos Arieli, Yaniv Ben-Ami and Ariel Rubinstein ()

American Economic Journal: Microeconomics, 2011, vol. 3, issue 4, 68-76

Abstract: Eye tracking is used to investigate the procedures that participants employ in choosing between two lotteries. Eye movement patterns in problems where the deliberation process is clearly identified are used to substantiate an interpretation of the results. The data provide little support for the hypothesis that decision makers rely exclusively upon an expected utility type of calculation. Instead eye patterns indicate that decision makers often compare prizes and probabilities separately. This is particularly true when the multiplication of sums and probabilities is laborious to compute. (JEL D81, D87)

JEL-codes: D81 D87 (search for similar items in EconPapers)
Date: 2011
Note: DOI: 10.1257/mic.3.4.68
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Citations: View citations in EconPapers (43)

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