Are Preference Reversals Due to Decision Contexts Or Elicitation Procedures? a Theoretical Reconciliation
We compare preferences elicited through choice and WTP/WTA in three classic paradigms of decision-context effects: intertemporal tradeoffs, acquisition versus forfeiture, and the attraction effect. We find that preference reversals across decision contexts occur when preferences are elicited through choice, but not when preferences are elicited through WTP/WTA.
Citation:
Chang-Yuan Lee, Nina Mazar, and Carey Morewedge (2021) ,"Are Preference Reversals Due to Decision Contexts Or Elicitation Procedures? a Theoretical Reconciliation", in NA - Advances in Consumer Research Volume 49, eds. Tonya Williams Bradford, Anat Keinan, and Matthew Matthew Thomson, Duluth, MN : Association for Consumer Research, Pages: 173-173.
Authors
Chang-Yuan Lee, Boston University
Nina Mazar, Boston University
Carey Morewedge, Boston University
Volume
NA - Advances in Consumer Research Volume 49 | 2021
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