Focusing theory hypothesizes a bias toward concentration according to which consumers prefer
goods with one outstanding feature over those with several smaller sized upsides. In contrast to models
of present-biased behavior, focusing theory prescribes also future-biased behavior if an option’s
future reward is particularly outstanding. Our laboratory experiment yields substantial support for
the bias toward concentration and finds both present-biased and future-biased choices as predicted by
focusing theory.
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