37 Pages Posted: 1 Nov 2013 Last revised: 19 Sep 2015
Date Written: September 14, 2015
We investigate the effect of different interactive technologies on the decision-making process in an information search laboratory experiment. In our experiment, the participant makes a selection from a list of differently-valued objects with multiple attributes. We compare presenting information in static form to two methods of interactive presentation. In the first, the participant can manually sort objects by attribute, a capability similar to that found in spreadsheet software. In the second, we present an interactive visual tool that (1) automatically sorts all objects by attribute and (2) uses visual cues for comparisons. Manual sorting capability does not cause an improvement in decisions in this context. On the other hand, the visual tool increases the value of the objects selected by the participant and decreases time spent deliberating. We also find that our interactive presentations affect the decision-making process of participants by changing the number of intermediate options considered. Our results highlight the importance of investigating the effect of technology on information search, and suggest that appropriate interactive visual displays may improve search in practice.
Keywords: revealed preference, information search, decision time, visual analytics
JEL Classification: C91, D83
Suggested Citation: Suggested Citation
Samek, Anya Savikhin and Hur, Inkyoung and Kim, Sung-Hee and Yi, Ji Soo, An Experimental Study of Decision Process with Interactive Technology (September 14, 2015). CESR-Schaeffer Working Paper. Available at SSRN: https://ssrn.com/abstract=2347698 or http://dx.doi.org/10.2139/ssrn.2347698