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The attentional driftdiffusionmodel extends to simple purchasing decisions


Krajbich, Ian Michael; Lu, Dingchao; Camerer, Colin; Rangel, Antonio (2012). The attentional driftdiffusionmodel extends to simple purchasing decisions. Frontiers in Psychology, 3(Artikel193):online.

Abstract

How do we make simple purchasing decisions (e.g., whether or not to buy a product at a givenprice)? Previous work has shown that the attentional drift-diffusion model (aDDM) can provideaccurate quantitative descriptions of the psychometric data for binary and trinary value-basedchoices, and of how the choice process is guided by visual attention. Here we extend the aDDM tothe case of purchasing decisions, and test it using an eye-tracking experiment. We find that themodel also provides a reasonably accurate quantitative description of the relationship betweenchoice, reaction time, and visual fix- ations using parameters that are very similar to those thatbest fit the previous data. The only critical difference is that the choice biases induced by thefixations are about half as big in purchasing decisions as in binary choices. This suggests that asimilar computational process is used to make binary choices, trinary choices, and simplepurchasing decisions.

How do we make simple purchasing decisions (e.g., whether or not to buy a product at a givenprice)? Previous work has shown that the attentional drift-diffusion model (aDDM) can provideaccurate quantitative descriptions of the psychometric data for binary and trinary value-basedchoices, and of how the choice process is guided by visual attention. Here we extend the aDDM tothe case of purchasing decisions, and test it using an eye-tracking experiment. We find that themodel also provides a reasonably accurate quantitative description of the relationship betweenchoice, reaction time, and visual fix- ations using parameters that are very similar to those thatbest fit the previous data. The only critical difference is that the choice biases induced by thefixations are about half as big in purchasing decisions as in binary choices. This suggests that asimilar computational process is used to make binary choices, trinary choices, and simplepurchasing decisions.

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33 citations in Web of Science®
42 citations in Scopus®
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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Language:English
Date:13 June 2012
Deposited On:20 Sep 2012 08:47
Last Modified:05 Apr 2016 15:57
Publisher:Frontiers Research Foundation
ISSN:1664-1078
Publisher DOI:https://doi.org/10.3389/fpsyg.2012.00193
Other Identification Number:merlin-id:7255, PMCID: PMC3374478
Permanent URL: https://doi.org/10.5167/uzh-64768

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