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Economists and psychologists have, on the whole, exhibited sharply different perspectives on the elicitation of preferences. Economists, who have made preference the central primitive in their thinking about human behavior, have for the most part rejected elicitation and have instead sought to infer preferences from observations of choice behavior. Psychologists, who have tended to think of preference as a context-determined subjective construct, have embraced elicitation as their dominant approach to measurement.
This volume, based on a symposium organized by Daniel McFadden at the University of California at Berkeley, provides a provocative and constructive engagement between economists and psychologists on the elicitation of preferences.
List of contents
Editors' Introduction: Elicitation of Preferences.- The Effects of Financial Incentives in Experiments: A Review and Capital-LaborProduction Framework.- Analysis of Choice Expectations in Incomplete Scenarios.- Rationality for Economists?.- Anchoring and Acquiescence Bias in Measuring Assets in Household Surveys.- Construal Processes in Preference Assessment.- Choice Bracketing.- Economic Preferences or Attitude Expressions?: An Analysis of Dollar Responses to Public Issues.- Measuring Constructed Preferences: Towards a Building Code.
Summary
Economists and psychologists have, on the whole, exhibited sharply different perspectives on the elicitation of preferences. Economists, who have made preference the central primitive in their thinking about human behavior, have for the most part rejected elicitation and have instead sought to infer preferences from observations of choice behavior. Psychologists, who have tended to think of preference as a context-determined subjective construct, have embraced elicitation as their dominant approach to measurement.
This volume, based on a symposium organized by Daniel McFadden at the University of California at Berkeley, provides a provocative and constructive engagement between economists and psychologists on the elicitation of preferences.
