Abstract
Endogenous response time data is increasingly becoming available to applied researchers of economic choices. However, the usefulness of such data for preference estimation is unclear. Here, we adapt a sequential-sampling model — previously-validated to jointly ex- plain subjects’ choices and response times in laboratory experiments — to model users’ responses to video advertisements on mobile devices in a field setting. Our estimates of utility correlate positively with out-of-sample measures of ad engagement, thus providing external validation of the value of incorporating endogenous response time information into a choice model. We then use the model estimates to assess the effectiveness of manipu- lating attention towards an advertisement. Counterfactual simulations predict that requiring users to watch some portion of the ad — as is the practice of some online platforms (e.g. YouTube) — generate only modest increases in click-through rates and revenue.
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