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Where do preferences come from?

Author

Listed:
  • Franz Dietrich
  • Christian List

Abstract

Rational choice theory analyzes how an agent can rationally act, given his or her preferences, but says little about where those preferences come from. Preferences are usually assumed to be fixed and exogenously given. Building on related work on reasons and rational choice (Dietrich and List forthcoming), we describe a framework for conceptualizing preference formation and preference change. In our model, an agent's preferences are based on certain 'motivationally salient' properties of the alternatives over which the preferences are held. Preferences may change as new properties of the alternatives become salient or previously salient properties cease to be salient. Our approach captures endogenous preferences in various contexts and helps to illuminate the distinction between formal and substantive concepts of rationality, as well as the role of perception in rational choice.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Franz Dietrich & Christian List, 2010. "Where do preferences come from?," Levine's Working Paper Archive 661465000000001137, David K. Levine.
    • Handle: RePEc:cla:levarc:661465000000001137
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    File URL: http://www.dklevine.com/archive/refs4661465000000001137.pdf
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    1. is not listed on IDEAS
    2. repec:hal:pseose:halshs-01249514 is not listed on IDEAS
    3. Nicolas Sirven & Thomas Barnay, 2017. "Expectations, loss aversion and retirement decisions in the context of the 2009 crisis in Europe," International Journal of Manpower, Emerald Group Publishing Limited, vol. 38(1), pages 25-44, April.
    4. Amitai Etzioni, 2014. "Crossing the Rubicon," Challenge, Taylor & Francis Journals, vol. 57(2), pages 65-79.
    5. Kadziński, Miłosz & Ghaderi, Mohammad & Dąbrowski, Maciej, 2020. "Contingent preference disaggregation model for multiple criteria sorting problem," European Journal of Operational Research, Elsevier, vol. 281(2), pages 369-387.
    6. Acharya, Avidit & Blackwell, Matthew & Sen, Maya, 2015. "Explaining Attitudes from Behavior: A Cognitive Dissonance Approach," Working Paper Series rwp15-026, Harvard University, John F. Kennedy School of Government.
    7. Lauren Larrouy & Guilhem Lecouteux, 2018. "Choosing in a Large World: The Role of Focal Points as a Mindshaping Device," Working Papers halshs-01923244, HAL.
    8. Dietrich, Franz & List, Christian, 2016. "Reason-Based Choice And Context-Dependence: An Explanatory Framework," Economics and Philosophy, Cambridge University Press, vol. 32(2), pages 175-229, July.
    9. Boissonnet, Niels & Ghersengorin, Alexis & Gleyze, Simon, 2020. "Revealed Deliberate Preference Changes," MPRA Paper 101756, University Library of Munich, Germany.
    10. repec:hal:pseose:halshs-01249632 is not listed on IDEAS
    11. Krecik, Markus, 2024. "A needs-based framework for approximating decisions and well-being," Discussion Papers 2024/2, Free University Berlin, School of Business & Economics.
    12. Dietrich, Franz & List, Christian, 2016. "Mentalism Versus Behaviourism In Economics: A Philosophy-Of-Science Perspective," Economics and Philosophy, Cambridge University Press, vol. 32(2), pages 249-281, July.
    13. Tomasz Gajderowicz & Maciej Jakubowski & Sylwia Wrona & Ghadah Alkhadim, 2023. "Is students’ teamwork a dreamwork? A new DCE-based multidimensional approach to preferences towards group work," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 10(1), pages 1-13, December.
    14. repec:qeh:ophiwp:ophiwp049 is not listed on IDEAS
    15. Mingli Zheng, 2018. "Subjective value judgments of distributive justice and legal decision-making," Asia-Pacific Journal of Regional Science, Springer, vol. 2(1), pages 177-194, April.
    16. Marek Hudik, 2020. "Equilibrium as compatibility of plans," Theory and Decision, Springer, vol. 89(3), pages 349-368, October.
    17. Anaïs Carlin, 2014. "Consumer Choice Theory and Social Learning," GREDEG Working Papers 2014-13, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    18. repec:hal:wpaper:halshs-01249632 is not listed on IDEAS
    19. Boissonnet, Niels & Ghersengorin, Alexis & Gleyze, Simon, 2023. "Revealed deliberate preference change," Games and Economic Behavior, Elsevier, vol. 142(C), pages 357-367.
    20. Marek Hudik, 0. "Equilibrium as compatibility of plans," Theory and Decision, Springer, vol. 0, pages 1-20.
    21. Bernat Mallén Alberdi, 2023. "How Have Video-on-Demand Platforms Shaped Our Preferences?Endogenous Preferences in a Cultural Market," IREA Working Papers 202316, University of Barcelona, Research Institute of Applied Economics, revised Nov 2023.
    22. Bernat Mallén, 2023. "“How Have Video-on-Demand Platforms Shaped Our Preferences? Endogenous Preferences in a Cultural Market”," AQR Working Papers 202308, University of Barcelona, Regional Quantitative Analysis Group, revised Nov 2023.
    23. Robin Cubitt & Daniel Navarro-Martinez & Chris Starmer, 2015. "On preference imprecision," Journal of Risk and Uncertainty, Springer, vol. 50(1), pages 1-34, February.
    24. Mattauch, Linus & Hepburn, Cameron, 2016. "Climate policy when preferences are endogenous – and sometimes they are," INET Oxford Working Papers 2016-04, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford.
    25. Jacobs Martin, 2016. "Accounting for Changing Tastes: Approaches to Explaining Unstable Individual Preferences," Review of Economics, De Gruyter, vol. 67(2), pages 121-183, August.

    More about this item

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • D0 - Microeconomics - - General
    • C0 - Mathematical and Quantitative Methods - - General
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles

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