Abstract
OPINION article Front. Psychol., 15 November 2011Sec. Cognition volume 2 - 2011 | https://doi.org/10.3389/fpsyg.2011.00294
Highlights
Classical economic approaches to the study of preferences and risky choices assume that human preferences are stable and rational
Preferences and their underlying values are assumed to be stable by classical economic theory, empirical research has often shown deviations from normative principles and documented how preferences under risk are constructed and even shaped by seemingly irrelevant factors
What is remarkable about the construction of preference is its ubiquitous presence in nearly every decision-making domain
Summary
Classical economic approaches to the study of preferences and risky choices assume that human preferences are stable and rational. Subsequent empirical research has demonstrated that preferences are often constructed and that choices are influenced by a variety of factors that frequently deviate from normative decision-making models. While many of these studies have confirmed that preferences depend on presentation formats, response modes, processing modes, mood states, attitudes, and a host of other moderators (e.g., Lichtenstein and Slovic, 2006), it should be noted that preferences are a manifestation of a decisionmaker’s inherent values. We aim to show how values can manifest themselves as preferences and influence choices in situations where people make decisions about others whose lives are at risk. Our research focuses on and documents people’s inconsistent use of values when making decisions about whether or not to aid other people whose lives are endangered
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