If Eyes are the Window to Our Soul, What Role does Eye-Tracking Play in Accounting Research?

Abstract

ABSTRACT Recent advances in technology have increased the accessibility and ease in using eye-tracking as a research tool. These advances have the potential to benefit behavioral accounting researchers' understanding of the cognitive processes underlying individuals' judgments, decisions, and behaviors. However, despite its potential and wide use in other disciplines, few behavioral accounting studies use eye-tracking. The purpose of this paper is to familiarize accounting researchers with eye-tracking, including its advantages and limitations as a research tool. We start by providing an overview of eye-tracking and discussing essential terms and useful metrics, as well as the psychological constructs they proxy. We then summarize eye-tracking research across research domains, review accounting studies that use eye-tracking, and identify future research directions across accounting topics. Finally, we provide an instructional resource to guide those researchers interested in using eye-tracking, including important considerations at each stage of the study. JEL Classifications: M41; C91.