Differential Attention to Attributes in Utility-theoretic Choice Models
Trudy Cameron () and
J.R. DeShazo ()
Additional contact information
J.R. DeShazo: School of Public Affairs, UCLA
University of Oregon Economics Department Working Papers from University of Oregon Economics Department
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.
Keywords: conjoint choice; bounded rationality; attention to attributes; choice set design (search for similar items in EconPapers)
JEL-codes: C25 C83 C81 C9 (search for similar items in EconPapers)
References: Add references at CitEc
Citations Track citations by RSS feed
Downloads: (external link)
http://economics.uoregon.edu/papers/UO-2010-8_Came ... ential_Attention.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://economics.uoregon.edu/papers/UO-2010-8_Cameron_Deshazo_Differential_Attention.pdf [301 Moved Permanently]--> https://economics.uoregon.edu/papers/UO-2010-8_Cameron_Deshazo_Differential_Attention.pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ore:uoecwp:2010-8
Access Statistics for this paper
More papers in University of Oregon Economics Department Working Papers from University of Oregon Economics Department Contact information at EDIRC.
Series data maintained by Bill Harbaugh ().