Friday Meeting - Alexia Gaudel (University of Groningen)

"Is the Attraction Effect Fast or Slow? A Choice Process Experiment"
Quand ? Le 23-03-2018,
de 10:00 à 12:00
Où ? ISEM Room SCI
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Title: Is the attraction effect fast or slow? A choice process experiment (with Paolo Crosetto)


Abstract: We run an incentivized choice process experiment along the lines of Caplin et al (2011) and consider the robustness of the attraction effect to differences in prices between the target and the competitor  (Crosetto \& Gaudeul, 2016). We also investigate differences between artificial choice settings and more realistic choice contexts.

We find that the attraction effect is not robust to larger differences in prices and that it emerges for the most part only in the early stages of the search process. Consumers provisionally choose the target to avoid the decoy and then progressively switch from the target to the competitor until their respective choice shares come to correspond to price differences only.

We expand our analysis by considering differences in individuals' response modes (intuitive vs. deliberative) and differences in the way to present choices  (numerical or graphical). This allows us to ascribe more precisely the role of fast and slow cognitive process in the emergence and disappearance of the attraction effect.