Choice utility

Ioannis Evangelidis; J Levav

Choice utility

Ioannis Evangelidis, J Levav

Department of Marketing Management

Research output: Contribution to conference › Paper › Academic

Abstract

We introduce a new type of utility that we call “choice utility” and that pertains to individuals' preference about how they want to attain an outcome. We posit that when individuals choose between two outcomes, they prefer to attain the very same outcome through action rather than inaction, which leads to significant preference reversals when the most—but not the least—preferred outcome is framed as the result of inaction.

Original language	Undefined/Unknown
Publication status	Published - 2014

Cite this

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title = "Choice utility",

abstract = "We introduce a new type of utility that we call “choice utility” and that pertains to individuals' preference about how they want to attain an outcome. We posit that when individuals choose between two outcomes, they prefer to attain the very same outcome through action rather than inaction, which leads to significant preference reversals when the most—but not the least—preferred outcome is framed as the result of inaction.",

author = "Ioannis Evangelidis and J Levav",

year = "2014",

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AU - Levav, J

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N2 - We introduce a new type of utility that we call “choice utility” and that pertains to individuals' preference about how they want to attain an outcome. We posit that when individuals choose between two outcomes, they prefer to attain the very same outcome through action rather than inaction, which leads to significant preference reversals when the most—but not the least—preferred outcome is framed as the result of inaction.

AB - We introduce a new type of utility that we call “choice utility” and that pertains to individuals' preference about how they want to attain an outcome. We posit that when individuals choose between two outcomes, they prefer to attain the very same outcome through action rather than inaction, which leads to significant preference reversals when the most—but not the least—preferred outcome is framed as the result of inaction.

M3 - Paper

ER -