A New Look at Constructed Choice Processes |
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Authors: | Dale Griffin Wendy Liu Uzma Khan |
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Institution: | (1) Sauder School of Business, University of British Columbia, Vancouver, Canada;(2) Graduate School of Business, Stanford University, Stanford, CA;(3) Tepper School of Business, Carnegie Mellon University, Pittsburgh, PA |
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Abstract: | Normative models of choice assert axiomatically that preferences are consistent, coherent, and determined only by relevant
alternatives. In contrast to this classical economic perspective, behavioral models derived from research in psychology and
consumer behavior assert that preferences are not guided by an internal, stable utility function but are constructed during
the choice process. The current paper is based on a session on constructed choice processes (CCP) at the 2004 Choice Symposium
that focused on how the standard CCP model can be enriched by bringing theories and tools from modern research in social cognition
to bear on choice phenomenon. The richer conceptual framework presented by new, currently unpublished empirical work provides
a novel perspective on choice construction by integrating the roles of subjective construal, experiential information, attribution,
goals, and satisfaction in understanding preference construction processes in choice. |
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Keywords: | behavioral decision theory choice social cognition normative models |
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