Attention and novelty: An experimental investigation of order effects in multiple valuation tasks

Belton, Cameron A. and Sugden, Robert (2018) Attention and novelty: An experimental investigation of order effects in multiple valuation tasks. Journal of Economic Psychology, 67. pp. 103-115. ISSN 0167-4870

Preview

PDF (Accepted manuscript) - Accepted Version Available under License Creative Commons Attribution Non-commercial No Derivatives. Download (1MB) | Preview

Abstract

This paper implements a novel experimental design to investigate the presence of order effects across multiple valuation tasks for consumer goods, whereby earlier goods are valued more highly than later goods. The paper presents a novel explanation of order effects, relating to attention and novelty. Typically, multiple valuation tasks for consumer goods use the same good for valuation in each task. In this experiment the type of good valued in each task is varied, allowing two potential mechanisms to be disentangled: experimental novelty effects, whereby participants become less interested with completing later tasks, and good-specific novelty effects, whereby participants become less interested with the goods used in later tasks. The results find a particular importance of the first task; goods in the first task are valued significantly higher than later valued goods, evidence of experimental novelty effects, and goods of a similar type to the good in the first task are valued significantly higher than goods of a different type to the first, evidence of good-specific novelty. The paper discusses the potential implications of these findings.

Item Type:	Article
Uncontrolled Keywords:	order effects,attention,novelty
Faculty \ School:	Faculty of Social Sciences > School of Economics
UEA Research Groups:	Faculty of Social Sciences > Research Groups > Economic Theory Faculty of Social Sciences > Research Centres > Centre for Behavioural and Experimental Social Sciences Faculty of Social Sciences > Research Centres > Centre for Competition Policy Faculty of Social Sciences > Research Groups > Behavioural Economics
Depositing User:	Pure Connector
Date Deposited:	16 May 2018 16:30
Last Modified:	20 Apr 2023 02:34
URI:	https://ueaeprints.uea.ac.uk/id/eprint/67101
DOI:	10.1016/j.joep.2018.05.002

Downloads

Actions (login required)

View Item