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American Economic Journal: Microeconomics: Vol. 3 No. 4 (November 2011)

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Tracking Decision Makers under Uncertainty

Article Citation

Arieli, Amos, Yaniv Ben-Ami, and Ariel Rubinstein. 2011. "Tracking Decision Makers under Uncertainty." American Economic Journal: Microeconomics, 3(4): 68-76.

DOI: 10.1257/mic.3.4.68

Abstract

Eye tracking is used to investigate the procedures that participants employ in choosing between two lotteries. Eye movement patterns in problems where the deliberation process is clearly identified are used to substantiate an interpretation of the results. The data provide little support for the hypothesis that decision makers rely exclusively upon an expected utility type of calculation. Instead eye patterns indicate that decision makers often compare prizes and probabilities separately. This is particularly true when the multiplication of sums and probabilities is laborious to compute. (JEL D81, D87)

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Authors

Arieli, Amos (Weizmann Institute of Science, Rechovot)
Ben-Ami, Yaniv (Tel Aviv U)
Rubinstein, Ariel (Tel Aviv U and NYU)

JEL Classifications

D81: Criteria for Decision-Making under Risk and Uncertainty
D87: Neuroeconomics

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