Representation Effects and Loss Aversion in Analytical Behaviour: An Experimental Study into Decision Making Facilitated by Visual Analytics
Representation Effects and Loss Aversion in Analytical Behaviour: An Experimental Study into Decision Making Facilitated by Visual Analytics
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Date
2018-01-03
Authors
Booth, Paul
Gibbins, Nicholas
Galanis, Spryos
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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.
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Interactive Visual Analytics and Visualization for Decision Making � Making Sense of Big Data,
experiment, behavioural economics, decision-making, visualisation, visual analytics
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9 pages
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Proceedings of the 51st Hawaii International Conference on System Sciences
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Attribution-NonCommercial-NoDerivatives 4.0 International
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