The Construction of Preference: “Coherent Arbitrariness”: Stable Demand Curves Without Stable Preferences

By Dan Ariely, George Loewenstein, Drazen Prelec. 2006

1,040 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/3eb41ab883712b5d4067c76bde06b7a751742edc

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Citations in the corpus

Coherent Arbitrariness: On Value Uncertainty for Environmental Goods (2009, positive): “Our results support the idea that people have a range of acceptable values as presumed by Ariely, Loewenstein, and Prelec (2003).”
The Welfare Economics of Default Options in 401(k) Plans (2015, methodology): “This choice matters for three reasons: (1) opt-out entails costly effort (e); (2) x determines current 401(k) saving and the default for the next period;(6) and (3) x determines the amount of residual cash, z, available for near-term consumption and non-401(k) saving.”
Reservation Price as a Range: An Incentive-Compatible Measurement Approach (2007, methodology): “10 Our focus on ICERANGE distinguishes our study from Ariely et al. (2003) as well.”
Experimenter demand effects in economic experiments (2010, neutral): “available options (e.g., Stewart et al. 2003) and anchored to prior information (e.g., Ariely et al. 2003 ), and framing cues may be used to trigger behavioral schemata that, by similarity, may be applied to the decision problem at hand (e.g., Gale et al. 1995; Markman and Moreau 2001).”
Using Ex Ante Approaches to Obtain Credible Signals for Value in Contingent Markets: Evidence from the Field (2007, neutral): “This is important since a recent study (Ariely, Loewenstein, and Prelec 2003—ALP hereafter) suggests that valuation experiments can produce results that appear coherent in the sense that subjects are responsive to withinsession variation in quantities or prices, but are arbitrary in that the…”
Destruction and Distress: Using a Quasi-Experiment to Show the Effects of the September 11 Attacks on Mental Well-Being in the United Kingdom (2011, methodology): “[ F81 ] Diamond and Hausman, 1994; Ariely et al., 2003), and is only one method of valuing non-market goods.”
When should the Ask be a Nudge? The Effect of Default Amounts on Charitable Donations (2016, positive): “Anchoring can affect decisions in many contexts (see Ariely, Loewenstein, and Prelec 2003; Epley and Gilovich 2006; Tversky and Kahneman 1974) by serving as a starting point for deliberation.”
The road not taken: how psychology was removed from economics, and how it might be brought back* (2007, background): “In contrast, the tendency for stated valuations to be influenced by salient but objectively irrelevant cues has been found to persist despite repeated experience of trade and consumption (Ariely et al., 2003).”
Shopping Goals, Goal Concreteness, and Conditional Promotions (2006, background): “…of anchoring, which are based on irrelevant anchors such as numbers on a roulette wheel (Tversky and Kahneman 1974), social security numbers (Ariely et al. 2003), and other forms of unrelated numerical priming (Chapman and Johnson 1999; Mussweiler and Strack 2001), as well as explicitly…”
Bonus of rebate?: the impact of income framing on spending and saving (2006, background): “The results of these experiments join a growing body of evidence demonstrating the importance of incorporating basic psychological principles into economic behavior and decision making (e.g., Ariely, Loewenstein, & Prelec, 2003; Camerer,1999; Kahneman, 2003; Thaler & Benartzi, 2004).”