Attentional shifts and preference reversals: An eye-tracking study

The classic preference reversal phenomenon, where monetary evaluations contradict risky choices, has been argued to arise due to a focus on outcomes during theevaluation of alternatives, leading to overpricing of long-shot options. Such an explanation makes the implicit assumption that attentional shifts drive the phenomenon.We conducted an eye-tracking study to causally test this hypothesis by comparing atreatment based on cardinal, monetary...