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Representation Effects and Loss Aversion in Analytical Behaviour: An Experimental Study into Decision Making Facilitated by Visual Analytics

Booth, P., Gibbins, N. and Galanis, S. ORCID: 0000-0003-4286-7449 (2018). Representation Effects and Loss Aversion in Analytical Behaviour: An Experimental Study into Decision Making Facilitated by Visual Analytics. In: Proceedings of the 51st Hawaii International Conference on System Sciences. (pp. 1310-1318). Honolulu: University of Hawai'i at Manoa. ISBN 978-0-9981331-1-9

Abstract

This paper presents the results of an experiment into the relationship between the representation of data and decision-making. Three hundred participants online, were asked to choose between a series of financial investment opportunities using data presented in line charts. A single dependent variable of investment choice was examined over four levels of varying display conditions and randomised data. Three variations to line chart visualisations provided a controlled factor between subjects divided into three groups; -˜standard’ line charts, -˜tall’ line charts, and one dual-series line chart. The final results revealed a consistent main effect and two other interactions between certain display conditions and decision-making. The findings of this paper are significant to the study visualisation and to the field of visual analytics. This experiment was devised as part of a study into Analytical Behaviour, defined as decision-making facilitated by visual analytics - a new topic that encompasses existing research and real-world applications.

Publication Type: Conference or Workshop Item (Paper)
Additional Information: This item is licensed under a Creative Commons Attribution Non-Commercial No Derivatives License.
Subjects: H Social Sciences > H Social Sciences (General)
Departments: School of Arts & Social Sciences > Economics
URI: http://openaccess.city.ac.uk/id/eprint/21406
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