scholarly journals Attention and salience in preference reversals

Author(s):  
Carlos Alós-Ferrer ◽  
Alexander Ritschel

AbstractWe investigate the implications of Salience Theory for the classical preference reversal phenomenon, where monetary valuations contradict risky choices. It has been stated that one factor behind reversals is that monetary valuations of lotteries are inflated when elicited in isolation, and that they should be reduced if an alternative lottery is present and draws attention. We conducted two preregistered experiments, an online choice study ($$N=256$$ N = 256 ) and an eye-tracking study ($$N=64$$ N = 64 ), in which we investigated salience and attention in preference reversals, manipulating salience through the presence or absence of an alternative lottery during evaluations. We find that the alternative lottery draws attention, and that fixations on that lottery influence the evaluation of the target lottery as predicted by Salience Theory. The effect, however, is of a modest magnitude and fails to translate into an effect on preference reversal rates in either experiment. We also use transitions (eye movements) across outcomes of different lotteries to study attention on the states of the world underlying Salience Theory, but we find no evidence that larger salience results in more transitions.

1990 ◽  
Vol 4 (2) ◽  
pp. 201-211 ◽  
Author(s):  
Amos Tversky ◽  
Richard H Thaler

The preference reversal phenomenon has been established in numerous studies during the last two decades, but its causes have only recently been uncovered. This phenomenon, or cluster of phenomena, challenges the traditional assumption that the decisionmaker has a fixed preference order that is captured accurately by any reliable elicitation procedure. If option A is priced higher than option B, we cannot always assume that A is preferred to B in a direct comparison. The evidence shows that different methods of elicitation could change the relative weighting of the attributes and give rise to different orderings.


2007 ◽  
Vol 97 (1) ◽  
pp. 277-297 ◽  
Author(s):  
David J Butler ◽  
Graham C Loomes

Many individuals' choices and valuations involve a degree of uncertainty/imprecision. This paper reports an experiment designed to obtain some measure of imprecision and to examine the extent to which it can explain preference reversals of two opposite forms, one of which appears not to have been reported previously. The model of imprecision we examine not only predicts both patterns but also provides an account of earlier results that are otherwise not well explained. The results suggest that any successful descriptive theory of choice and valuation will need to allow in some way for the imprecision surrounding people's decisions. (JEL C91, D11, D81)


2019 ◽  
Vol 12 (7) ◽  
Author(s):  
Ignace T.C. Hooge ◽  
Roy S. Hessels ◽  
Diederick C. Niehorster ◽  
Gabriel J. Diaz ◽  
Andrew T. Duchowski ◽  
...  

Video stream: https://vimeo.com/357473408 Wearable mobile eye trackers have great potential as they allow the measurement of eye movements during daily activities such as driving, navigating the world and doing groceries. Although mobile eye trackers have been around for some time, developing and operating these eye trackers was generally a highly technical affair. As such, mobile eye-tracking research was not feasible for most labs. Nowadays, many mobile eye trackers are available from eye-tracking manufacturers (e.g. Tobii, Pupil labs, SMI, Ergoneers) and various implementations in virtual/augmented reality have recently been released.The wide availability has caused the number of publications using a mobile eye tracker to increase quickly. Mobile eye tracking is now applied in vision science, educational science, developmental psychology, marketing research (using virtual and real supermarkets), clinical psychology, usability, architecture, medicine, and more. Yet, transitioning from lab-based studies where eye trackers are fixed to the world to studies where eye trackers are fixed to the head presents researchers with a number of problems. These problems range from the conceptual frameworks used in world-fixed and head-fixed eye tracking and how they relate to each other, to the lack of data quality comparisons and field tests of the different mobile eye trackers and how the gaze signal can be classified or mapped to the visual stimulus. Such problems need to be addressed in order to understand how world-fixed and head-fixed eye-tracking research can be compared and to understand the full potential and limits of what mobile eye-tracking can deliver. In this symposium, we bring together presenting researchers from five different institutions (Lund University, Utrecht University, Clemson University, Birkbeck University of London and Rochester Institute of Technology) addressing problems and innovative solutions across the entire breadth of mobile eye-tracking research. Hooge, presenting Hessels et al. paper, focus on the definitions of fixations and saccades held by researchers in the eyemovement field and argue how they need to be clarified in order to allow comparisons between world-fixed and head-fixed eye-tracking research. - Diaz et al. introduce machine-learning techniques for classifying the gaze signal in mobile eye-tracking contexts where head and body are unrestrained. Niehorster et al. compare data quality of mobile eye trackers during natural behavior and discuss the application range of these eye trackers. Duchowski et al. introduce a method for automatically mapping gaze to faces using computer vision techniques. Pelz et al. employ state-of-the-art techniques to map fixations to objects of interest in the scene video and align grasp and eye-movement data in the same reference frame to investigate the guidance of eye movements during manual interaction.


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