Visual formats in risk preference elicitation: What catches the eye?
研究彩票呈现格式(条形图宽高变化 vs 纯文字)对风险偏好诱导的影响,结合眼动追踪数据发现格式对偏好参数无显著影响,但眼动信息与偏好相关并改变决策理论拟合的推断。
Abstract We explore the effect of lottery presentation formats on elicitation of risk preferences using a popular probability varying task (Holt & Laury. The American Economic Review 92 (5), 1644–1655. 2002) and a payoff-varying task (Drichoutis & Lusk. Journal of Risk and Uncertainty 53 (2), 89–106. 2016). The presentation formats use horizontal bars that vary either the width or height of the bars (or both at the same time) to help subjects in judging how large or small probabilities and monetary amounts are in a given choice set. These graphical formats are compared to a text only format. We complement our choice data with eye tracking data that enriches our structural models with additional information regarding how visual attention varies with the presented information. While we find no statistically significant effects of presentation formats on elicited parameters for risk preferences, we find that eye tracking information not only is associated with preference parameters, but it also changes the inferences with respect to which decision theory better fits the choice data.