Improving rationality by increasing attention

Hui-Kuan Chung, Nick Doren, Lasse Mononen, Mia Lu, Marcus Grueschow, Helen Hayward Könnecke, Alexander Jetter, Boris B. Quednow, Nick Netzer and Philippe Tobler

No 476, ECON - Working Papers from Department of Economics - University of Zurich

Abstract: Models of limited attention have the potential to become a new unifying paradigm that could replace the rational choice approach. In this paper, we test the limited attention hypothesis by enhancing attention using pharmacological substances. A total of 160 subjects participated in our randomized, placebocontrolled, and double-blind experimental study. We find that enhancing attention through boosting the noradrenergic system with reboxetine improves the quality of choice as captured by multiple different measures of rationality. Eye-tracking suggests that boosting noradrenaline promotes more rational choice by efficiently directing attention to more valuable options. Other attention-enhancing drugs (methylphenidate, which boosts the dopaminergic system, and nicotine, which boosts the cholinergic system) improve rationality to a lesser extent. Aside from testing the limited attention hypothesis directly, our results have implications for welfare economics, policy-design, and public health.

Keywords: Limited attention; rationality; pharmacology (search for similar items in EconPapers)
JEL-codes: B41 C91 D01 D60 D91 (search for similar items in EconPapers)
Date: 2025-08
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Working Paper: Improving Rationality by Increasing Attention (2025)
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Persistent link: https://EconPapers.repec.org/RePEc:zur:econwp:476

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