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Clarifying the role of an unavailable distractor in human multiattribute choice
Decisions between two economic goods can be swayed by a third unavailable ‘decoy’ alternative, which does not compete for choice, notoriously violating the principles of rational choice theory. Although decoy effects typically depend on the decoy’s position in a multiattribute choice space, recent s...
Autores principales: | , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
eLife Sciences Publications, Ltd
2022
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9757826/ https://www.ncbi.nlm.nih.gov/pubmed/36473122 http://dx.doi.org/10.7554/eLife.83316 |
Sumario: | Decisions between two economic goods can be swayed by a third unavailable ‘decoy’ alternative, which does not compete for choice, notoriously violating the principles of rational choice theory. Although decoy effects typically depend on the decoy’s position in a multiattribute choice space, recent studies using risky prospects (i.e., varying in reward and probability) reported a novel ‘positive’ decoy effect operating on a single value dimension: the higher the ‘expected value’ (EV) of an unavailable (distractor) prospect was, the easier the discrimination between two available target prospects became, especially when their expected-value difference was small. Here, we show that this unidimensional distractor effect affords alternative interpretations: it occurred because the distractor’s EV covaried positively with the subjective utility difference between the two targets. Looking beyond this covariation, we report a modest ‘negative’ distractor effect operating on subjective utility, as well as classic multiattribute decoy effects. A normatively meaningful model (selective integration), in which subjective utilities are shaped by intra-attribute information distortion, reproduces the multiattribute decoy effects, and as an epiphenomenon, the negative unidimensional distractor effect. These findings clarify the modulatory role of an unavailable distracting option, shedding fresh light on the mechanisms that govern multiattribute decisions. |
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