Seminars

Abstract:Across a series of studies, our team demonstrates an attentional dilution effect: as options differ on more dimensions, the decision weight on any single modifier (delay, risk, or a perk) falls. In intertemporal choices, delay matters more when the outcome type is the same (TV now vs. TV in two months) than when the outcome type differs (vacation now vs. TV in two months). A Japan-U.S. project using both between- and within-participants designs finds a robust cross-modal effect across cultures and individuals, while Japanese participants show higher baseline financial patience. Eye-tracking corroborates the mechanism: participants fixate more on timing in uni-modal than cross-modal comparisons. In a restaurant-choice task, the marginal value of a complimentary bottle of champagne declines as the number of other differing features increases. These results challenge value models that assume context-invariant attribute weights and inform measurement, consumer design, and welfare inference.