Year: 2016
Type: report
Abstract: Focusing theory hypothesizes a bias toward concentration according to which consumers prefer \ngoods with one outstanding feature over those with several smaller sized upsides. In contrast to models \nof present-biased behavior, focusing theory prescribes also future-biased behavior if an option’s \nfuture reward is particularly outstanding. Our laboratory experiment yields substantial support for \nthe bias toward concentration and finds both present-biased and future-biased choices as predicted by \nfocusing theory.
Source: MADOC (University of Mannheim)
Authors: Markus Dertwinkel‐Kalt, Gerhard Riener
Institution: University of Cologne
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2287871660