Context-Dependent Risk Preferences and Decoy Effects
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Marcel Lichters & Paul Bengart & Marko Sarstedt & Bodo Vogt, 2017. "What really matters in attraction effect research: when choices have economic consequences," Marketing Letters, Springer, vol. 28(1), pages 127-138, March.
- Indraneel Dasgupta & Prasanta Pattanaik, 2007. "‘Regular’ choice and the weak axiom of stochastic revealed preference," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 31(1), pages 35-50, April.
- Jim Engle-Warnick & Javier Escobal & Sonia Laszlo, 2009.
"How do additional alternatives affect individual choice under uncertainty?,"
Canadian Journal of Economics, Canadian Economics Association, vol. 42(1), pages 113-140, February.
- Jim Engle‐Warnick & Javier Escobal & Sonia Laszlo, 2009. "How do additional alternatives affect individual choice under uncertainty?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 42(1), pages 113-140, February.
- Botond Koszegi & Adam Szeidl, 2013.
"A Model of Focusing in Economic Choice,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 128(1), pages 53-104.
- Adam Szeidl & Botond Koszegi, 2011. "A Model of Focusing in Economic Choice," 2011 Meeting Papers 1441, Society for Economic Dynamics.
- Loomes, Graham & Starmer, Chris & Sugden, Robert, 1989. "Preference Reversal: Information-Processing Effect or Rational Non-transitive Choice?," Economic Journal, Royal Economic Society, vol. 99(395), pages 140-151, Supplemen.
- Mohr, Peter N. C. & Heekeren, Hauke R. & Rieskamp, Jörg, 2017. "Attraction Effect in Risky Choice Can Be Explained by Subjective Distance Between Choice Alternatives," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 7, pages 1-10.
- Chris Starmer, 1992. "Testing New Theories of Choice under Uncertainty using the Common Consequence Effect," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 59(4), pages 813-830.
- Heath, Timothy B & Chatterjee, Subimal, 1995. "Asymmetric Decoy Effects on Lower-Quality versus Higher-Quality Brands: Meta-analytic and Experimental Evidence," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 22(3), pages 268-284, December.
- Huber, Joel & Payne, John W & Puto, Christopher, 1982. "Adding Asymmetrically Dominated Alternatives: Violations of Regularity and the Similarity Hypothesis," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 9(1), pages 90-98, June.
- repec:bla:econom:v:55:y:1988:i:217:p:47-62 is not listed on IDEAS
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Castillo, Geoffrey, 2020.
"The attraction effect and its explanations,"
Games and Economic Behavior, Elsevier, vol. 119(C), pages 123-147.
- Geoffrey Castillo, 2020. "The attraction effect and its explanations," Post-Print hal-03900629, HAL.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2013.
"Salience and Consumer Choice,"
Journal of Political Economy, University of Chicago Press, vol. 121(5), pages 803-843.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, "undated". "Salience and Consumer Choice," Working Paper 62321, Harvard University OpenScholar.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2012. "Salience and Consumer Choice," NBER Working Papers 17947, National Bureau of Economic Research, Inc.
- Bordalo, Pedro & Gennaioli, Nicola & Shleifer, Andrei, 2013. "Salience and Consumer Choice," Scholarly Articles 27814563, Harvard University Department of Economics.
- Pedro Bordado & Nicola Gennaioli & Andrei Shleifer, 2015. "Salience and Consumer Choice," Working Papers 501, Barcelona School of Economics.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2012. "Salience and Consumer Choice," Working Papers 463, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2010. "Salience and consumer choice," Economics Working Papers 1252, Department of Economics and Business, Universitat Pompeu Fabra, revised May 2012.
- Fabio Galeotti & Maria Montero & Anders Poulsen, 2022.
"The Attraction and Compromise Effects in Bargaining: Experimental Evidence,"
Management Science, INFORMS, vol. 68(4), pages 2987-3007, April.
- Fabio Galeotti & Maria Montero & Anders Poulsen, 2017. "The attraction and compromise effects in bargaining: Experimental evidence," Working Paper series, University of East Anglia, Centre for Behavioural and Experimental Social Science (CBESS) 17-04, School of Economics, University of East Anglia, Norwich, UK..
- Fabio Galeotti & Maria Montero & Anders Poulsen, 2022. "The Attraction and Compromise Effects in Bargaining: Experimental Evidence," Post-Print hal-03514435, HAL.
- Fabio Galeotti & Maria Montero & Anders Poulsen, 2020. "The Attraction and Compromise Effects in Bargaining: Experimental Evidence," Working Papers halshs-02466032, HAL.
- Fabio Galeotti, 2017. "The Attraction and Compromise Effects in Bargaining: Experimental Evidence," Post-Print halshs-01657317, HAL.
- Fabio Galeotti & Maria Montero & Anders Poulsen, 2018. "The Attraction and Compromise Effects in Bargaining: Experimental Evidence," Post-Print halshs-01820223, HAL.
- Michael Canty & Felix Josua Lang & Susanne Jana Adler & Marcel Lichters & Marko Sarstedt, 2024. "Caffeine’s complex influence on the attraction effect: a mixed bag of outcomes," Marketing Letters, Springer, vol. 35(3), pages 451-476, September.
- Li, Feng & Du, Timon C. & Wei, Ying, 2020. "Enhancing supply chain decisions with consumers’ behavioral factors: An illustration of decoy effect," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 144(C).
- Susanne Jana Adler & Martina Katharina Schöniger & Marcel Lichters & Marko Sarstedt, 2024. "Forty years of context effect research in marketing: a bibliometric analysis," Journal of Business Economics, Springer, vol. 94(3), pages 437-466, April.
- Helfrich, Magdalena & Herweg, Fabian, 2020. "Context-dependent preferences and retailing: Vertical restraints on internet sales," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 87(C).
- Dertwinkel-Kalt, Markus & Köster, Mats, 2020. "Attention to online sales: The role of brand image concerns," DICE Discussion Papers 335, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
- Radka Kubalová & Martin Klepek, 2022. "Brand Presence in Decision-Making Involving Decoys," Tržište/Market, Faculty of Economics and Business, University of Zagreb, vol. 34(1), pages 9-24.
- Howard Kunreuther & Erwann Michel-Kerjan, 2015. "Demand for fixed-price multi-year contracts: Experimental evidence from insurance decisions," Journal of Risk and Uncertainty, Springer, vol. 51(2), pages 171-194, October.
- Salvatore Nunnari & Jan Zapal, 2017.
"A Model of Focusing in Political Choice,"
Working Papers
599, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Nunnari, Salvatore & Zapal, Jan, 2017. "A Model of Focusing in Political Choice," CEPR Discussion Papers 12407, C.E.P.R. Discussion Papers.
- Salvatore Nunnari & Jan Zapal, 2017. "A Model of Focusing in Political Choice," CERGE-EI Working Papers wp587, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
- Markus Dertwinkel-Kalt & Mats Köster, 2020.
"Salience and Skewness Preferences [Risk-neutral Firms can Extract Unbounded Profits from Consumers with Prospect Theory Preferences],"
Journal of the European Economic Association, European Economic Association, vol. 18(5), pages 2057-2107.
- Markus Dertwinkel-Kalt & Mats Köster, 2018. "Salience and Skewness Preferences," CESifo Working Paper Series 7416, CESifo.
- Dertwinkel-Kalt, Markus & Köster, Mats, 2019. "Salience and skewness preferences," DICE Discussion Papers 310, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
- Dertwinkel-Kalt, Markus & Köster, Mats, 2019. "Salience and Skewness Preferences," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203492, Verein für Socialpolitik / German Economic Association.
- Markus Dertwinkel-Kalt & Katrin Köhler & Mirjam R. J. Lange & Tobias Wenzel, 2017.
"Demand Shifts Due to Salience Effects: Experimental Evidence,"
Journal of the European Economic Association, European Economic Association, vol. 15(3), pages 626-653.
- Dertwinkel-Kalt, Markus & Köhler, Katrin & Lange, Mirjam R. J. & Wenzel, Tobias, 2016. "Demand shifts due to salience effects: Experimental evidence," DICE Discussion Papers 216, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
- Han Bleichrodt & Ulrich Schmidt, 2002. "A Context-Dependent Model of the Gambling Effect," Management Science, INFORMS, vol. 48(6), pages 802-812, June.
- Lunn, Pete & Somerville, Jason J., 2015. "Surplus Identification with Non-Linear Returns," Papers WP522, Economic and Social Research Institute (ESRI).
- Zhuo Chen & Russell Golman & Jason Somerville, 2024. "Menu-dependent risk attitudes: Theory and evidence," Journal of Risk and Uncertainty, Springer, vol. 68(1), pages 77-105, February.
- Jerome R. Busemeyer & Jörg Rieskamp, 2014. "Psychological research and theories on preferential choice," Chapters, in: Stephane Hess & Andrew Daly (ed.), Handbook of Choice Modelling, chapter 3, pages 49-72, Edward Elgar Publishing.
- Francesco Rigoli & Christoph Mathys & Karl J Friston & Raymond J Dolan, 2017. "A unifying Bayesian account of contextual effects in value-based choice," PLOS Computational Biology, Public Library of Science, vol. 13(10), pages 1-28, October.
- Markus Weinmann & Abhay Nath Mishra & Lena Franziska Kaiser & Jan vom Brocke, 2023. "The Attraction Effect in Crowdfunding," Information Systems Research, INFORMS, vol. 34(3), pages 1276-1295, September.
- Mohr, Peter N. C. & Heekeren, Hauke R. & Rieskamp, Jörg, 2017. "Attraction Effect in Risky Choice Can Be Explained by Subjective Distance Between Choice Alternatives," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 7, pages 1-10.
More about this item
Keywords
; ; ; ; ; ; ;JEL classification:
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
- M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CBE-2025-02-17 (Cognitive and Behavioural Economics)
- NEP-EXP-2025-02-17 (Experimental Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ces:ceswps:_11611. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Klaus Wohlrabe (email available below). General contact details of provider: https://edirc.repec.org/data/cesifde.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.