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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...

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Detalles Bibliográficos
Autores principales: Cao, Yinan, Tsetsos, Konstantinos
Formato: Online Artículo Texto
Lenguaje:English
Publicado: eLife Sciences Publications, Ltd 2022
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
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author Cao, Yinan
Tsetsos, Konstantinos
author_facet Cao, Yinan
Tsetsos, Konstantinos
author_sort Cao, Yinan
collection PubMed
description 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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spelling pubmed-97578262022-12-17 Clarifying the role of an unavailable distractor in human multiattribute choice Cao, Yinan Tsetsos, Konstantinos eLife Neuroscience 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. eLife Sciences Publications, Ltd 2022-12-06 /pmc/articles/PMC9757826/ /pubmed/36473122 http://dx.doi.org/10.7554/eLife.83316 Text en © 2022, Cao and Tsetsos https://creativecommons.org/licenses/by/4.0/This article is distributed under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/) , which permits unrestricted use and redistribution provided that the original author and source are credited.
spellingShingle Neuroscience
Cao, Yinan
Tsetsos, Konstantinos
Clarifying the role of an unavailable distractor in human multiattribute choice
title Clarifying the role of an unavailable distractor in human multiattribute choice
title_full Clarifying the role of an unavailable distractor in human multiattribute choice
title_fullStr Clarifying the role of an unavailable distractor in human multiattribute choice
title_full_unstemmed Clarifying the role of an unavailable distractor in human multiattribute choice
title_short Clarifying the role of an unavailable distractor in human multiattribute choice
title_sort clarifying the role of an unavailable distractor in human multiattribute choice
topic Neuroscience
url 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
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