Preference reversal: A new look at an old problem

PSYCH OpenIR > 中国科学院心理研究所回溯数据库(1956-2010)

	Preference reversal: A new look at an old problem
	Li, Shu; S. Li
摘要	A generalized weak dominance approach is used to test the documented preference reversal (PR) phenomenon. This approach simply models risky choice behavior in PR as a choice between the best possible outcomes or a choice between the worst possible outcomes by equating smaller paired outcome difference between bets. The preference reversals are therefore seen as a consequence of the fact that gamble parameters are designed to encourage individuals to differentiate the difference between the worst possible outcomes of the two bets (i.e., to avoid the worse possible outcome of $ bet) rather than to differentiate the difference between the best possible outcomes of the two bets (i.e., to seek the better outcome of $ bet on which people tend to put a higher price). A "matching" task as well as a "pricing" task was designed to examine whether the knowledge of the value difference of the paired possible outcomes will permit prediction of preferential choice. The overall test results favor the equate-to-differentiate explanation. The present data suggest that the anomaly may be not in individuals' inconsistent preferences but rather in our inadequate knowledge of what it is that is being preferred when a question about preference is posed.; A generalized weak dominance approach is used to test the documented preference reversal (PR) phenomenon. This approach simply models risky choice behavior in PR as a choice between the best possible outcomes or a choice between the worst possible outcomes by equating smaller paired outcome difference between bets. The preference reversals are therefore seen as a consequence of the fact that gamble parameters are designed to encourage individuals to differentiate the difference between the worst possible outcomes of the two bets (i.e., to avoid the worse possible outcome of $ bet) rather than to differentiate the difference between the best possible outcomes of the two bets (i.e., to seek the better outcome of $ bet on which people tend to put a higher price). A "matching" task as well as a "pricing" task was designed to examine whether the knowledge of the value difference of the paired possible outcomes will permit prediction of preferential choice. The overall test results favor the equate-to-differentiate explanation. The present data suggest that the anomaly may be not in individuals' inconsistent preferences but rather in our inadequate knowledge of what it is that is being preferred when a question about preference is posed.
关键词	risky decision-making prospect-theory choice psychology model
学科领域	社会心理学
	2006-06-01
语种	英语
发表期刊	PSYCHOLOGICAL RECORD
ISSN	0033-2933
卷号	56 期号:3 页码:411-428
期刊论文类型	Article
收录类别	SSCI
WOS记录号	WOS:000239326900006
引用统计	被引频次：8[WOS] [WOS记录] [WOS相关记录]
文献类型	期刊论文
条目标识符	http://ir.psych.ac.cn/handle/311026/5625
专题	中国科学院心理研究所回溯数据库(1956-2010)
通讯作者	S. Li
作者单位	Chinese Acad Sci, Inst Psychol, Ctr Social & Econ Behav, Beijing 100101, Peoples R China
推荐引用方式 GB/T 7714	Li, Shu,S. Li. Preference reversal: A new look at an old problem[J]. PSYCHOLOGICAL RECORD,2006,56(3):411-428.
APA	Li, Shu,&S. Li.(2006).Preference reversal: A new look at an old problem.PSYCHOLOGICAL RECORD,56(3),411-428.
MLA	Li, Shu,et al."Preference reversal: A new look at an old problem".PSYCHOLOGICAL RECORD 56.3(2006):411-428.

条目包含的文件
文件名称/大小	文献类型	版本类型	开放类型	使用许可
Li-2006-Preference r（1043KB）			开放获取	--	浏览下载