Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/128593
Authors: 
Dertwinkel-Kalt, Markus
Riener, Gerhard
Year of Publication: 
2016
Series/Report no.: 
DICE Discussion Paper 214
Abstract: 
Focusing theory hypothesizes a bias toward concentration according to which consumers prefer goods with one outstanding feature over those with several smaller sized upsides. In contrast to models of present-biased behavior, focusing theory prescribes also future-biased behavior if an option's future reward is particularly outstanding. Our laboratory experiment yields substantial support for the bias toward concentration and finds both present-biased and future-biased choices as predicted by focusing theory.
Subjects: 
Attention
Focusing
Rational choice
JEL: 
D03
D11
D90
ISBN: 
978-3-86304-213-4
Document Type: 
Working Paper

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