Variance effects as preference reversals in choice versus rejection
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(Published version)
Date
2012
Authors
Greenacre, L.
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Conference paper
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Australian and New Zealand Marketing Academy Conference proceedings, 2012, pp.1-7
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Australian and New Zealand Marketing Academy Conference (29 May 2012 : Perth, Australia)
Abstract
The ability for decision framing to produce seeming preference reversals during decision tasks is an important finding in the decision making literature. However, previous studies examining this issue have not readily addressed whether framing a decision as a choice or a rejection influences the mean preference and/or variability in preference. Using a choice modelling framework, this paper considers this issue in a sequence of four studies. It demonstrates that framing a decision as a choice or a rejection influences both mean utility and the variability in utility (a measure of preference) in a systematic manner, and it uncovers the mechanisms that drive this phenomenon. The implications for both how we understand consumer decisions and common methods for modelling consumer choice are discussed.
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Copyright 2012 ANZMAC