Jakub Steiner, CERGE-EI (Prague) and Zurich

"Attention Please!"

Abstract:
We study the impact of manipulating the attention of a decision-maker who learns sequentially about a number of items before making a choice. Under natural assumptions on the decision-maker’s strategy, directing attention toward one item increases its likelihood of being chosen regardless of its value. This result applies when the decision-maker can reject all items in favor of an outside option with known value; if no outside option is available, the direction of the effect of manipulation depends on the value of the item.
Link to paper:  https://home.cerge-ei.cz/steiner/please.pdf.