Trust me; I know what I am doing investigating the effect of choice list elicitation and domain-relevant training on preference reversals in decision making for others
| Autor: | Arthur E. Attema, Sebastian Neumann-Böhme, Stefan A. Lipman, Werner B. F. Brouwer |
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| Přispěvatelé: | Health Economics (HE), Erasmus School of Health Policy & Management |
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
Economics
Econometrics and Finance (miscellaneous) Preference imprecision Decision Making Sample (statistics) Choice Behavior Domain (software engineering) 03 medical and health sciences SDG 3 - Good Health and Well-being Choice Decision making for others 0502 economics and business Humans Applied research Preference elicitation 050207 economics Students Valuation (finance) Probability Original Paper 030503 health policy & services Health Policy 05 social sciences A domain Preference Core (game theory) Preference reversals 0305 other medical science Psychology Cognitive psychology |
| Zdroj: | The European Journal of Health Economics European Journal of Health Economics, 22(5), 679-697. Springer-Verlag |
| ISSN: | 1618-7601 1618-7598 |
| Popis: | One core assumption of standard economic theory is that an individual’s preferences are stable, irrespective of the method used to elicit them. This assumption may be violated if preference reversals are observed when comparing different methods to elicit people’s preferences. People may then prefer A over B using one method while preferring B over A using another. Such preference reversals pose a significant problem for theoretical and applied research. We used a sample of medical and economics students to investigate preference reversals in the health and financial domain when choosing patients/clients. We explored whether preference reversals are associated with domain-relevant training and tested whether using guided ‘choice list’ elicitation reduces reversals. Our findings suggest that preference reversals were more likely to occur for medical students, within the health domain, and for open-ended valuation questions. Familiarity with a domain reduced the likelihood of preference reversals in that domain. Although preference reversals occur less frequently within specialist domains, they remain a significant theoretical and practical problem. The use of clearer valuation procedures offers a promising approach to reduce preference reversals. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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