Attentional Mechanism Underlying Asymmetric Subjective Opportunity Cost Effect in Intertemporal Choice: Explanation Based on Attribute‐Based Models

ABSTRACT The asymmetric subjective opportunity cost (ASOC) effect in intertemporal choice refers to the increase of an individual's preference for a larger and later (LL) option when the opportunity cost of the smaller and sooner (SS) option is highlighted compared to when it is not, while the individual's intertemporal preference is unaffected when the opportunity cost of the LL option is highlighted. This study, based on the attribute‐based models, investigated the attentional mechanism by which opportunity costs implication influence intertemporal choice in conjunction with the eye‐tracking method. Results showed that when the opportunity cost of the SS option was highlighted, participants were more likely to choose the LL option; the mean gaze time of the delay dimension was decreased, and the proportion of the gaze time in the money dimension relative to the delay dimension to the total gaze time increased; both variables mediated the impact of highlighting the opportunity cost of the SS option on intertemporal choice. This study explored the asymmetric subjective opportunity cost effect from the perspective of dimensional attention and adds evidence to the explanatory power of attribute‐based models for intertemporal choices.