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Tracking Decision Makers under Uncertainty

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Author Info

  • Amos Arieli
  • Yaniv Ben-Ami
  • Ariel Rubinstein

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)

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/mic.3.4.68
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File URL: http://www.aeaweb.org/aej/mic/data/2010-0017_data.zip
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Bibliographic Info

Article provided by American Economic Association in its journal American Economic Journal: Microeconomics.

Volume (Year): 3 (2011)
Issue (Month): 4 (November)
Pages: 68-76

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Handle: RePEc:aea:aejmic:v:3:y:2011:i:4:p:68-76

Note: DOI: 10.1257/mic.3.4.68
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Cited by:
  1. Michael H. Birnbaum & Jeffrey P. Bahra, 2012. "Separating response variability from structural inconsistency to test models of risky decision making," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 7(4), pages 402-426, July.

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