We show in a theoretical model that the benefit from additional attention to the marginal attribute within a choice set depends upon the expected utility loss from making a suboptimal choice if it is ignored. Guided by this analysis, we then develop an empirical method to measure an individual's...

We show in a theoretical model that benefits of allocating additional attention to evaluating the marginal attribute with in choice set depend upon the expected utility loss from making a suboptimal choice as a result of ignoring that incremental attribute. Guided by this analysis, we then...