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The attentional drift-diffusion model extends to simple purchasing decisions

Krajbich, Ian and Lu, Dingchao and Camerer, Colin and Rangel, Antonio (2012) The attentional drift-diffusion model extends to simple purchasing decisions. Frontiers in Psychology, 3 . Art. No. 193. ISSN 1664-1078. PMCID PMC3374478. doi:10.3389/fpsyg.2012.00193.

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How do we make simple purchasing decisions (e.g., whether or not to buy a product at a given price)? Previous work has shown that the attentional drift-diffusion model (aDDM) can provide accurate quantitative descriptions of the psychometric data for binary and trinary value-based choices, and of how the choice process is guided by visual attention. Here we extend the aDDM to the case of purchasing decisions, and test it using an eye-tracking experiment. We find that the model also provides a reasonably accurate quantitative description of the relationship between choice, reaction time, and visual fixations using parameters that are very similar to those that best fit the previous data. The only critical difference is that the choice biases induced by the fixations are about half as big in purchasing decisions as in binary choices. This suggests that a similar computational process is used to make binary choices, trinary choices, and simple purchasing decisions.

Item Type:Article
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URLURL TypeDescription CentralArticle
Camerer, Colin0000-0003-4049-1871
Additional Information:© 2012 Krajbich, Lu, Camerer and Rangel. This is an open-access article distributed under the terms of the Creative Commons Attribution Non Commercial License, which permits non-commercial use, distribution, and reproduction in other forums, provided the original authors and source are credited. Received: 15 February 2012; Accepted: 25 May 2012; Published online: 13 June 2012. This research was supported by grants to Antonio Rangel from the NSF (SES-0851408, SES-0926544, SES-0850840), NIH (R01 AA018736), and Lipper Foundation. Ian Krajbich was supported by a National Science Foundation Integrative Graduate Education and Research Traineeship. Dingchao Lu was supported by a Summer Undergraduate Research Fellowship from the California Institute of Technology.
Funding AgencyGrant Number
NIHR01 AA018736
Lipper FoundationUNSPECIFIED
Caltech Summer Undergraduate Research Fellowship (SURF)UNSPECIFIED
Subject Keywords:drift-diffusion, decision-making, neuroeonomics, decision neuroscience, eye-tracking, valuation, choice, purchasing
PubMed Central ID:PMC3374478
Record Number:CaltechAUTHORS:20120625-083118592
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Official Citation:Krajbich I, Lu D, Camerer C and Rangel A (2012) The attentional drift-diffusion model extends to simple purchasing decisions. Front. Psychology 3:193. doi: 10.3389/fpsyg.2012.00193
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:32054
Deposited By: Tony Diaz
Deposited On:27 Jun 2012 20:20
Last Modified:09 Nov 2021 20:03

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