How actions create--not just reveal--preferences.

Published

Journal Article (Review)

The neo-classical economics view that behavior is driven by - and reflective of - hedonic utility is challenged by psychologists' demonstrations of cases in which actions do not merely reveal preferences but rather create them. In this view, preferences are frequently constructed in the moment and are susceptible to fleeting situational factors; problematically, individuals are insensitive to the impact of such factors on their behavior, misattributing utility caused by these irrelevant factors to stable underlying preferences. Consequently, subsequent behavior might reflect not hedonic utility but rather this erroneously imputed utility that lingers in memory. Here we review the roles of these streams of utility in shaping preferences, and discuss how neuroimaging offers unique possibilities for disentangling their independent contributions to behavior.

Full Text

Duke Authors

Cited Authors

  • Ariely, D; Norton, MI

Published Date

  • January 2008

Published In

Volume / Issue

  • 12 / 1

Start / End Page

  • 13 - 16

PubMed ID

  • 18063405

Pubmed Central ID

  • 18063405

Electronic International Standard Serial Number (EISSN)

  • 1879-307X

International Standard Serial Number (ISSN)

  • 1364-6613

Digital Object Identifier (DOI)

  • 10.1016/j.tics.2007.10.008

Language

  • eng