Decoy Effect and Cognitive Reflection

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F16%3A00092883" target="_blank" >RIV/00216224:14560/16:00092883 - isvavai.cz</a>
Result on the web
<a href="http://yem2016.econ.muni.cz/media/13757/yem-program-2016.pdf" target="_blank" >http://yem2016.econ.muni.cz/media/13757/yem-program-2016.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Decoy Effect and Cognitive Reflection
Original language description
Violating the Independence from irrelevant alternatives axiom, decoy options in choice sets may induce preference shifts. As noted by Pettibone and Wedell (2000), although a person may be indifferent between X and Y in pairwise choice, he may strongly prefer X over Y in a trinary choice that includes decoy. Two types of decoys can be constructed: Dominated (D-decoys), that are inferior to X, and Nearly Dominated (ND-decoys), significantly worse in one and only slightly better than X in the other attribute. Here, I investigate the conjecture of Dhar and Gorlin (2013) that D and ND decoys operate within different System 1 / 2 processes. In this experiment Cognitive Reflection Test score is negatively related to Dominated Decoy performance and not related to Nearly Dominated Decoy performance. This suggests that D and ND decoys do, as hypothesized, operate within different cognitive processes.
Czech name
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Czech description
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Publication year
2016
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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