INSEAD Library

Includes bibliographical references and index

Digitized

The Construction of Preference Contents Contributors page xi xv xvii Preface Cass R. Sunstein Acknowledgments I INTRODUCTION 1 The Construction of Preference: An Overview 1 Sarah Lichtenstein and Paul Slovic II PREFERENCE REVERSALS 2 Relative Importance of Probabilities and Payoffs in Risk Taking 41 Paul Slovic and Sarah Lichtenstein 3 Reversals of Preference Between Bids and Choices in Gambling Decisions 52 Sarah Lichtenstein and Paul Slovic 4 Response-Induced Reversals of Preference in Gambling: An Extended Replication in Las Vegas 69 Sarah Lichtenstein and Paul Slovic 5 Economic Theory of Choice and the Preference Reversal Phenomenon 77 David M. Grether and Charles R. Plott III PSYCHOLOGICAL THEORIES OF PREFERENCE REVERSALS 6 Contingent Weighting in Judgment and Choice 95 122 146 Amos Tversky, Samuel Sattath, and Paul Slovic 7 Cognitive Processes in Preference Reversals David A. Schkade and Eric J. Johnson 8 The Causes of Preference Reversal Amos Tversky, Paul Slovic, and Daniel Kahneman 9 Preference Reversals Between Joint and Separate Evaluations of Options: A Review and Theoretical Analysis Christopher K. Hsee, George Loewenstein, Sally Blount, and Max H. Bazerman 10 Attribute-Task Compatibility as a Determinant of Consumer Preference Reversals Stephen M. Nowlis and Itamar Simonson 11 Preferences Constructed From Dynamic Microprocessing Mechanisms Jerome R. Busemeyer, Joseph G. Johnson, and Ryan K. Jessup IV EVIDENCE FOR PREFERENCE CONSTRUCTION 163 192 220 12 Construction of Preferences by Constraint Satisfaction Dan Simon, Daniel C. Krawczyk, and Keith J. Holyoak 13 "Coherent Arbitrariness": Stable Demand Curves Without Stable Preferences Dan Ariely, George Loewenstein, and Drazen Prelec 14 Tom Sawyer and the Construction of Value Dan Ariely, George Loewenstein, and Drazen Prelec 15 When Web Pages Influence Choice: Effects of Visual Primes on Experts and Novices Naomi Mandel and Eric J. Johnson 16 When Choice Is Demotivating: Can One Desire Too Much of a Good Thing? Sheena S. Iyengar and Mark R. Lepper V THEORIES OF PREFERENCE CONSTRUCTION 235 246 271 282 300 17 Constructive Consumer Choice Processes James R. Bettman, Mary Frances Luce, and John W. Payne 18 Decision Making and Action: The Search for a Dominance Structure Henry Montgomery 19 Pre- and Post-Decision Construction of Preferences: Differentiation and Consolidation Ola Svenson 20 Choice Bracketing Daniel Read, George Loewenstein, and Matthew Rabin 21 Constructing Preferences From Memory Elke U. Weber and Eric J. Johnson 323 342 356 372 397 VI AFFECT AND REASON 22 Reason-Based Choice 411 434 Eldar Shafir, Itamar Simonson, and Amos Tversky 23 The Affect Heuristic Paul Slovic, Melissa L. Finucane, Ellen Peters, and Donald G. MacGregor 24 The Functions of Affect in the Construction of Preferences 454 464 Ellen Peters 25 Mere Exposure: A Gateway to the Subliminal Robert B. Zajonc 26 Introspecting About Reasons Can Reduce Post-Choice Satisfaction 471 Timothy D. Wilson, Douglas J. Lisle, Jonathan W. Schooler, Sara D. Hodges, Kristen J. Klaaren, and Suzanne J. LaFleur VII MISWANTING 27 New Challenges to the Rationality Assumption 487 Daniel Kahneman 28 Distinction Bias: Misprediction and Mischoice Due to Joint Evaluation 504 Christopher K. Hsee and Jiao Zhang 29 Lay Rationalism and Inconsistency Between Predicted Experience and Decision 532 Christopher K. Hsee, Jiao Zhang, Frank Yu, and Yiheng Xi 30 Miswanting: Some Problems in the Forecasting of Future Affective States 550 Daniel T. Gilbert and Timothy D. Wilson VIII CONTINGENT VALUATION 31 Economic Preferences or Attitude Expressions? An Analysis of Dollar Responses to Public Issues 565 Daniel Kahneman, liana Ritov, and David A. Schkade 32 Music, Pandas, and Muggers: On the Affective Psychology of Value 594 Christopher K. Hsee and Yuval Rottenstreich 33 Valuing Environmental Resources: A Constructive Approach 609 Robin Gregory, Sarah Lichtenstein, and Paul Slovic IX PREFERENCE MANAGEMENT 34 Measuring Constructed Preferences: Towards a Building Code John W. Payne, James R. Bettman, and David A. Schkade 35 Constructing Preferences From Labile Values 629 653 668 682 689 Baruch Fischhoff 36 Informed Consent and the Construction of Values Douglas MacLean 3 7 Do Defaults Save Lives? Eric J. Johnson and Daniel G. Goldstein 38 Libertarian Paternalism Is Not an Oxymoron Cass R. Sunstein and Richard H. Thaler References Index 709 775