What can eye tracking tell us about decision-making heuristics in discrete choice experiments?
Discrete choice experiments (DCEs) are widely applied in economics to study choice behaviour. Current research is limited in terms of understanding how individuals process information and make choices. We explore how novel eye-tracking methods can provide insight into decision-making processes underlying choices, as well as the implications for choice data analysis. Initial results show evidence of (i) top-to-bottom, (ii) left-to-right and (iii) first-to-last order biases in processing multi-attribute information. Experimental factors – whether attributes are defined as ‘best’ or ‘worst’, choice task complexity and attribute ordering – also influence information processing. Combining eye-tracking and choices data, the random regret minimisation (RRM) choice modelling framework was able to link participants’ information search and choices behaviour. New choice models describing both processes and outcomes of decision making are expected to provide a better account of individuals’ preferences. We are also currently investigating what eye-tracking can tell us about ordering effects in DCEs.
HERU researchers involved in this research project: Mandy Ryan
External Collaborators: F. Hermens (University of Tilburg) and N. Krucien (Evidera)
Krucien, N., Ryan, M. and Hermens, F. (2017) 'Visual attention in multi-attributes choices: what can eye-tracking tell us?', Journal of Economic Behavior and Organization, 135, 251-267.
Ryan, M., Krucien, N. and Hermens, F. (2017) 'The eyes have it: using eye tracking to inform information processing strategies in multi-attributes choices', Health Economics, 27(4), 709-721.
Krucien, N., Ryan, M. and Hermens, F. (2014) 'Using eye-tracking methods to inform decision making processes in Discrete Choice Experiments ', Health Economists' Study Group (HESG) Meeting, Glasgow Caledonian University, Glasgow, 23-25 June 2014.
Ryan, M., Krucien, N. and Hermens, F. (2014) 'Exploring decision heuristics in discrete choice experiments using eye-tracking methods', Health Economics in the Age of Longevity: a Joint iHEA & ECHE Congress, Trinity College, Dublin, 13-16 July 2014.
Ryan, M.,Krucien, N. and Hermens, F. (2014) 'Using eye-tracking methods to inform decision making processes in discrete choice experiments', Stirling Choice Workshop, University of Stirling, 14 October 2014.
Ryan, M., Krucien, N. and Hermens, F. (2014) 'Using eye-tracking methods to inform decision making processes in discrete choice experiments', 1st Meeting of the International Academy of Health Preference Research, Amsterdam, 8 November 2014.
Ryan, M., Krucien, N. and Hermens, F. (2014) 'Using eye-tracking to inform decision-making processes in discrete choice experiments', External Seminar, Health Economics Unit, University of Birmingham, 13 November 2014.
Ryan, M. (2015) 'Eye tracking methods to understand decision-making heuristics', Stirling University Behavioural Science Centre: Behavioural Science Seminar, Stirling University, 11 February 2015.
Ryan, M. (2015) 'Using eye-tracking to inform decision-making processes in choice based tasks: an application to lifestyle choices to reduce obesity', C2E2 Rounds, Centre for Clinical Epidemiology & Evaluation, Vancouver Coastal Health Research Institute, 23 February 2015.
Ryan, M. (2015) 'Using eye-tracking to inform decision-making processes in choice based tasks: an application to lifestyle choices to reduce obesity', CHS/IPH Seminar Series, O'Brien Institute for Public Health & Department of Community Health Sciences, Cumming School of Medicine, University of Calgary, 27 February 2015.
Krucien, N. (2016) 'The role of information processing in economic decisions.: evidence from an eye‐tracking choice experiment', Scottish Economic Society Annual Conference, Perth, 20 April 2016.
Krucien, N., Hermens, F. and Ryan, M. (2018) 'Accepting or rejecting: two sides of the same coin? Evidence from an eye-tracking binary choice experiment', 12th European Conference on Health Economics (EuHEA), Maastricht, The Netherlands, 11-14 July 2018.
Genie, M. and Ryan, M. (2021) 'Keeping an eye on cost: what can eye-tracking tell us about cost attribute information processing in a discrete choice experiment?' Health Economists’ Study Group (HESG) Winter 2021 Meeting, Centre for Health Economics, London School of Hygiene and Tropical Medicine, London [Online], 6-8 January 2021.