Reducing preference reversals: The role of preference imprecision and nontransparent methods
Preferences elicited with matching and choice usually diverge (as characterised by preference reversals), violating a basic rationality requirement, namely, procedure invariance. We report the results of an experiment that shows that preference reversals between matching (Standard Gamble in our case...
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| Veröffentlicht in: | Health economics 2018-08, Vol.27 (8), p.1230-1246 |
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| container_end_page | 1246 |
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| container_issue | 8 |
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| container_title | Health economics |
| container_volume | 27 |
| creator | Pinto‐Prades, José Luis Sánchez‐Martínez, Fernando Ignacio Abellán‐Perpiñán, José María Martínez‐Pérez, Jorge E. |
| description | Preferences elicited with matching and choice usually diverge (as characterised by preference reversals), violating a basic rationality requirement, namely, procedure invariance. We report the results of an experiment that shows that preference reversals between matching (Standard Gamble in our case) and choice are reduced when the matching task is conducted using nontransparent methods. Our results suggest that techniques based on nontransparent methods are less influenced by biases (i.e., compatibility effects) than transparent methods. We also observe that imprecision of preferences influences the degree of preference reversals. The preference reversal phenomenon is less strong in subjects with more precise preferences. |
| doi_str_mv | 10.1002/hec.3772 |
| format | Article |
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We report the results of an experiment that shows that preference reversals between matching (Standard Gamble in our case) and choice are reduced when the matching task is conducted using nontransparent methods. Our results suggest that techniques based on nontransparent methods are less influenced by biases (i.e., compatibility effects) than transparent methods. We also observe that imprecision of preferences influences the degree of preference reversals. 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| ispartof | Health economics, 2018-08, Vol.27 (8), p.1230-1246 |
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| language | eng |
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| source | Applied Social Sciences Index & Abstracts (ASSIA); MEDLINE; Wiley Online Library Journals Frontfile Complete |
| subjects | Adult Bias choice Choice Behavior Decision Making Gambling Health economics health measurement Humans Matching Models, Psychological Patient Preference preference imprecision preference reversals Preferences Rationality Standard Gamble Young Adult |
| title | Reducing preference reversals: The role of preference imprecision and nontransparent methods |
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