Speaker
Liang Guo, Hong Kong University of Science and Technology
Date
Wednesday, 9 April 2014
Location
CLO306, Clore Management Centre, Birkbeck, Malet Street, London WC1E 7HX
Description
Choices can be context dependent. This empirical finding is usually invoked to suggest that preferences are constructive and susceptible to decision environment. Yet preference construction can be systematic and endogenous. When preference ordering in a choice set is state dependent, decision makers can engage in information acquisition activities (ie deliberation) before choice to improve knowledge about the state-dependent preference ordering.
Choice context can thus influence ex post preference ordering through affecting the incentive to deliberate. Consequently, contextual deliberation may lead to preference construction and give rise to seemingly irrational behavioural phenomena such as the compromise effect and choice overload.
Open to
PhD Programme
Staff
Last updated Wednesday, 16 December 2015