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Journal articles on the topic 'Preference theory'

Author: Grafiati

Published: 4 June 2021

Last updated: 13 February 2022

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1

Chazi, Abdelaziz, Alexandra Theodossiou, and Zaher Zantout. "Corporate payout-form: investors’ preference and catering theory." Managerial Finance 44, no. 12 (December 3, 2018): 1418–33. http://dx.doi.org/10.1108/mf-03-2018-0127.

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Purpose The purpose of this paper is to develop and validate new robust measures of investors’ preference for the form of regular corporate payout. Then, the paper adds to the empirical evidence on catering theory by examining managers’ catering to such preference. Design/methodology/approach The authors use the matching method to control for firm characteristics. The authors apply two robustness tests to validate the measures. The authors use the rigorous multivariate analysis. Findings US investors’ preference for regular dividends vs regular stock repurchases, being different forms of corporate payout, varies over time. Managers cater to investors’ preference for payout form. The findings are consistent with the catering theory of Baker and Wurgler (2004a). The number of firms that pay cash dividends regularly continue to outnumber the ones that purchase their shares regularly. Research limitations/implications The study only uses US data. It does not cover other countries. Practical implications The measures can be used in several future research endeavors, such as examining investors’ payout-form preferences in other countries (see Booth and Zhou, 2017) and exploring their determinants, the corporate governance characteristics of firms that cater to investors’ preference vs firms that do not, etc. Social implications The study contributes to understanding investors’ preferences and corporate payout behavior which is prerequisite to efficient policy formulation. Originality/value The proxies for investors’ payout-form preference control for firm characteristics and are unrelated to investors’ time-varying risk preferences. Also, they are robust to measurement issues. Moreover, the study covers a period of 40 years.

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Hara, Kazuhiro, Efe A. Ok, and Gil Riella. "Coalitional Expected Multi‐Utility Theory." Econometrica 87, no. 3 (2019): 933–80. http://dx.doi.org/10.3982/ecta14156.

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This paper begins by observing that any reflexive binary (preference) relation (over risky prospects) that satisfies the independence axiom admits a form of expected utility representation. We refer to this representation notion as the coalitional minmax expected utility representation. By adding the remaining properties of the expected utility theorem, namely, continuity, completeness, and transitivity, one by one, we find how this representation gets sharper and sharper, thereby deducing the versions of this classical theorem in which any combination of these properties is dropped from its statement. This approach also allows us to weaken transitivity in this theorem, rather than eliminate it entirely, say, to quasitransitivity or acyclicity. Apart from providing a unified dissection of the expected utility theorem, these results are relevant for the growing literature on boundedly rational choice in which revealed preference relations often lack the properties of completeness and/or transitivity (but often satisfy the independence axiom). They are also especially suitable for the (yet overlooked) case in which the decision‐maker is made up of distinct individuals and, consequently, transitivity is routinely violated. Finally, and perhaps more importantly, we show that our representation theorems allow us to answer many economic questions that are posed in terms of nontransitive/incomplete preferences, say, about the maximization of preferences, the existence of Nash equilibrium, the preference for portfolio diversification, and the possibility of the preference reversal phenomenon.

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NURMI, HANNU, and JANUSZ KACPRZYK. "POLITICAL REPRESENTATION: PERSPECTIVE FROM FUZZY SYSTEMS THEORY." New Mathematics and Natural Computation 03, no. 02 (July 2007): 153–63. http://dx.doi.org/10.1142/s1793005707000690.

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The theory of fuzzy sets has been applied to social choice primarily in the context where one is given a set of individual fuzzy preference relations and the aim is to find a non-fuzzy choice set of winners or best alternatives. In this article, we discuss the problem of composing multi-member deliberative bodies starting again from a set of individual fuzzy preference relations. We outline methods of aggregating these relations into a measure of how well each candidate represents each voter in terms of the latter's preferences. Our main goal is to show how the considerations discussed in the context of individual non-fuzzy complete and transitive preference relations can be extended into the domain of fuzzy preference relations.

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Chambers, Christopher P., Federico Echenique, and Eran Shmaya. "General revealed preference theory." Theoretical Economics 12, no. 2 (May 2017): 493–511. http://dx.doi.org/10.3982/te1924.

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5

Dorman, Peter. "Alienation and Preference Theory." Review of Radical Political Economics 21, no. 3 (September 1989): 1–6. http://dx.doi.org/10.1177/048661348902100302.

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Kolluru, Mythili. "Cognitive Style, Learning Preference and Performance: Theory and Empirics." International Journal of Psychosocial Rehabilitation 24, no. 4 (February 28, 2020): 3678–88. http://dx.doi.org/10.37200/ijpr/v24i4/pr201481.

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7

Zinas, Bako Zachariah, and Mahmud Mohd Jusan. "Choice Behaviour of Housing Attributes: Theory and measurement." Asian Journal of Environment-Behaviour Studies 2, no. 2 (January 1, 2017): 23–37. http://dx.doi.org/10.21834/aje-bs.v2i2.175.

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Preferences and choices in a society are constant dynamic operations, made based on the behavioural dynamism of people. In this cosmic dynamism, they keep shifting from one stage to another, within the same cosmic space. Housing preferences and choices, like any other life interests, therefore operate within this framework. Unlike merchandised products brands, housing brands are hardly known, probably because of the heterogeneous nature of the housing product - the house. However, very little is known about the relevant housing attributes (refer to page 7). Housing preferences and choices operate within the framework of preferences and choices for housing attributes. In any preference and choice activity, there are underlying motivations that make it possible for an individual to choose from available alternatives within a given product field. This paper examines and outlines the methodological and theoretical framework of housing preferences and choices, based on the theory of means-end chain (MEC). Previous MEC applications in the field of architecture and urban design have been very useful and successful. The paper attempts to explore from literature the possibility of extending the previous methods and their applicability in design process. In dealing with user preference for housing, there is a need for research for a development of a technological tool to identify user needs and preference, and the kind of decision support that is required to identify these needs. Keywords: housing preference and choice, means-end chain, laddering technique, models. © 2017 The Authors. Published for AMER ABRA by e-International Publishing House, Ltd., UK. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, UniversitiTeknologi MARA, Malaysia.

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8

Stubager, Rune. "Preference-Shaping: An Empirical Test." Political Studies 51, no. 2 (June 2003): 241–61. http://dx.doi.org/10.1111/1467-9248.00422.

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According to Downs, parties are forced to accommodate the preferences of the voters in order to win elections. However, Dunleavy and Ward argue that it is also possible for a party to use preference-shaping strategies to bring the preferences of the voters in line with the party's position. Using structural equation modelling, preference-shaping theory is tested in relation to the effect of sales of council houses and shares in privatised companies on the electorate's attitudes to economic policies under the 1979–92 Conservative governments in Britain. The analyses provide little support for preference-shaping theory, which seems in need of respecification if it is to be maintained.

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Sankaran, Soham, Jacob Derechin, and Nicholas A. Christakis. "CurmElo: The theory and practice of a forced-choice approach to producing preference rankings." PLOS ONE 16, no. 5 (May 27, 2021): e0252145. http://dx.doi.org/10.1371/journal.pone.0252145.

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We introduce CurmElo, a forced-choice approach to producing a preference ranking of an arbitrary set of objects that combines the Elo algorithm with novel techniques for detecting and correcting for (1) preference heterogeneity induced polarization in preferences among raters, and (2) intransitivity in preference rankings. We detail the application of CurmElo to the problem of generating approximately preference-neutral identifiers, in this case four-letter and five-letter nonsense words patterned on the phonological conventions of the English language, using a population of Amazon Mechanical Turk workers. We find evidence that human raters have significant non-uniform preferences over these nonsense words, and we detail the consequences of this finding for social science work that utilizes identifiers without accounting for the bias this can induce. In addition, we describe how CurmElo can be used to produce rankings of arbitrary features or dimensions of preference of a set of objects relative to a population of raters.

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10

Hausman, Daniel M. "“Consequentialism and Preference Formation in Economics and Game Theory”." Royal Institute of Philosophy Supplement 59 (September 2006): 111–29. http://dx.doi.org/10.1017/s1358246100009486.

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When students first study expected utility, they are inclined to interpret it as a theory that explains preferences for lotteries in terms of preferences for outcomes. Knowing U($100) and U($0), the agent can calculate that the utility of a gamble of $100 on a fair coin coming up heads is U($100)/2 + U($0)/2. Utilities are indices representing preferences, so in calculating the utility of the gamble, one is apparently giving a causal explanation for the agent's preference for the gamble.

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Hausman, Daniel. "Consequentialism and Preference Formation in Economics and Game Theory." Royal Institute of Philosophy Supplement 59 (July 31, 2006): 111–30. http://dx.doi.org/10.1017/s1358246106059066.

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When students first study expected utility, they are inclined to interpret it as a theory that explains preferences for lotteries in terms of preferences for outcomes. Knowing U($100) and U($0), the agent can calculate that the utility of a gamble of $100 on a fair coin coming up heads is U($100)/2 + U($0)/2. Utilities are indices representing preferences, so in calculating the utility of the gamble, one is apparently giving a causal explanation for the agent’s preference for the gamble.

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12

Anderson, Elizabeth. "Symposium on Amartya Sen's philosophy: 2 Unstrapping the straitjacket of ‘preference’: a comment on Amartya Sen's contributions to philosophy and economics." Economics and Philosophy 17, no. 1 (April 2001): 21–38. http://dx.doi.org/10.1017/s0266267101000128.

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The concept of preference dominates economic theory today. It performs a triple duty for economists, grounding their theories of individual behavior, welfare, and rationality. Microeconomic theory assumes that individuals act so as to maximize their utility – that is, to maximize the degree to which their preferences are satisfied. Welfare economics defines individual welfare in terms of preference satisfaction or utility, and social welfare as a function of individual preferences. Finally, economists assume that the rational act is the act that maximally satisfies an individual's preferences. The habit of framing problems in terms of the concept of preference is now so entrenched that economists rarely entertain alternatives.

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13

Snippe, Jan. "Loanable funds theory versus liquidity preference theory." De Economist 133, no. 2 (June 1985): 129–50. http://dx.doi.org/10.1007/bf01676404.

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Jossa, Bruno. "Liquidity Preference Theory or Loanable Funds Theory." Archives of Business Research 9, no. 8 (August 14, 2021): 87–91. http://dx.doi.org/10.14738/abr.98.10544.

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In Keynes’s approach, interest rates are driven up by rises in demand for money and scaled down by rises in money supply. On the contrary, this paper argues that neither of these propositions will stand the test of scrutiny. Keynes traced demand for money to three main factors, the transaction, precautionary and speculative motives, but rises in demand associated with the transaction motive do not necessarily drive up the rate of interest. The paper shows also that the liquidity preference theory and the loanable funds theory are different theories and that the former is faulty, while the latter is correct.

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15

Hausman, Daniel M., and Michael S. McPherson. "PREFERENCE SATISFACTION AND WELFARE ECONOMICS." Economics and Philosophy 25, no. 1 (March 2009): 1–25. http://dx.doi.org/10.1017/s0266267108002253.

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The tenuous claims of cost-benefit analysis to guide policy so as to promote welfare turn on measuring welfare by preference satisfaction and taking willingness-to-pay to indicate preferences. Yet it is obvious that people's preferences are not always self-interested and that false beliefs may lead people to prefer what is worse for them even when people are self-interested. So welfare is not preference satisfaction, and hence it appears that cost-benefit analysis and welfare economics in general rely on a mistaken theory of well-being. This essay explores the difficulties, criticizes standard defences of welfare economics, and then offers a new partial defence that maintains that welfare economics is independent of any philosophical theory of well-being. Welfare economics requires nothing more than anevidentialconnection between preference and welfare: in circumstances in which people are concerned with their own interests and reasonably good judges of what will serve their interests, their preferences will be reliable indicators of what is good for them.

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Van Haitsma, Kimberly, Katherine M. Abbott, Annabelle Arbogast, Lauren R. Bangerter, Allison R. Heid, Liza L. Behrens, and Caroline Madrigal. "A Preference-Based Model of Care: An Integrative Theoretical Model of the Role of Preferences in Person-Centered Care." Gerontologist 60, no. 3 (June 1, 2019): 376–84. http://dx.doi.org/10.1093/geront/gnz075.

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Abstract Knowledge of individuals’ everyday preferences is a cornerstone of person-centered care (PCC). Initial evidence demonstrates the positive impact of honoring preferences in care for older adults receiving long-term services and supports (LTSS). Yet, the mechanisms through which preference-based care affects individual well-being remain poorly understood. This article proposes a theoretical model of PCC entitled the Preference-Based Model of Care that integrates the Theory of Human Motivation, Self-determination Theory, the Competence-Press Model of person and environment fit, the Living Systems Framework, and the Broaden-and-Build theory of positive emotions to deepen our understanding of the processes through which preference-based care affects well-being among older adults receiving LTSS. The Preference-Based Model of Care illustrates how goal-directed behaviors facilitate need fulfillment through the expression of individual preferences and how these behaviors mediate the relationship between person–environment fit and affect balance within a particular social, cultural, and political context. The Preference-Based Model of Care can advance research on PCC in LTSS and can inform LTSS clinical practice guidelines for older adults, regardless of functional or cognitive capacity.

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Yang, Nihong, Lei Chen, and Yuyu Yuan. "An Improved Collaborative Filtering Recommendation Algorithm Based on Retroactive Inhibition Theory." Applied Sciences 11, no. 2 (January 18, 2021): 843. http://dx.doi.org/10.3390/app11020843.

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Collaborative filtering (CF) is the most classical and widely used recommendation algorithm, which is mainly used to predict user preferences by mining the user’s historical data. CF algorithms can be divided into two main categories: user-based CF and item-based CF, which recommend items based on rating information from similar user profiles (user-based) or recommend items based on the similarity between items (item-based). However, since user’s preferences are not static, it is vital to take into account the changing preferences of users when making recommendations to achieve more accurate recommendations. In recent years, there have been studies using memory as a factor to measure changes in preference and exploring the retention of preference based on the relationship between the forgetting mechanism and time. Nevertheless, according to the theory of memory inhibition, the main factors that cause forgetting are retroactive inhibition and proactive inhibition, not mere evolutions over time. Therefore, our work proposed a method that combines the theory of retroactive inhibition and the traditional item-based CF algorithm (namely, RICF) to accurately explore the evolution of user preferences. Meanwhile, embedding training is introduced to represent the features better and alleviate the problem of data sparsity, and then the item embeddings are clustered to represent the preference points to measure the preference inhibition between different items. Moreover, we conducted experiments on real-world datasets to demonstrate the practicability of the proposed RICF. The experiments show that the RICF algorithm performs better and is more interpretable than the traditional item-based collaborative filtering algorithm, as well as the state-of-art sequential models such as LSTM and GRU.

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Chen, Tinggui, Qianqian Li, Peihua Fu, Jianjun Yang, Chonghuan Xu, Guodong Cong, and Gongfa Li. "Public Opinion Polarization by Individual Revenue from the Social Preference Theory." International Journal of Environmental Research and Public Health 17, no. 3 (February 4, 2020): 946. http://dx.doi.org/10.3390/ijerph17030946.

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Social conflicts occur frequently during the social transition period and the polarization of public opinion happens occasionally. By introducing the social preference theory, the target of this paper is to reveal the micro-interaction mechanism of public opinion polarization. Firstly, we divide the social preferences of Internet users (network nodes) into three categories: egoistic, altruistic, and fair preferences, and adopt the revenue function to define the benefits obtained by individuals with different preferences among their interaction process so as to analyze their decision-making behaviors driven by the revenue. Secondly, the revenue function is used to judge the exit rules of nodes in a network, and then a dynamic network of spreading public opinion with the node (individual) exit mechanism is built based on a BA scale-free network. Subsequently, the influences of different social preferences, as well as individual revenue on the effect of public opinion polarization, are analyzed through simulation experiments. The simulation results show that (1) Different social preferences demonstrate different influences on the evolution of public opinions, (2) Individuals tend to interact with ones with different preferences, (3) The network with a single preference or a high aggregation is more likely to form public opinion polarization. Finally, the practicability and effectiveness of the proposed model are verified by a real case.

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19

Moon, Heekang, and Hyun-Hwa Lee. "Consumers’ preference fit and ability to express preferences in the use of online mass customization." Journal of Research in Interactive Marketing 8, no. 2 (June 3, 2014): 124–43. http://dx.doi.org/10.1108/jrim-07-2013-0043.

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Purpose – The purpose of this study is to investigate consumers’ intention to use mass customization by incorporating preference fit and their ability to express preferences into the theory of planned behaviour and to examine how consumers perceive behavioural control over the process of online mass customization (OMC). Preference fit, which refers to fit between consumer preference and product attributes, and ability to express preferences were integrated into theory of planned behaviour as two belief variables related to OMC. Design/methodology/approach – In total, 346 potential respondents were invited via e-mail to participate in the present study acquired from an independent marketing company. We conducted a self-administrated online survey using a video clip with voice instructions to demonstrate the OMC process as a stimulus. Findings – The results suggest that consumers’ attitudes and perceived behavioural control predicted their OMC use intentions. Preference fit positively affected consumers’ attitudes towards OMC as a behavioural belief, and the ability to express preferences positively influenced preference fit but did not predict perceived behavioural control as a control belief. Clothing involvement was a positive predictor of preference fit and the ability to express preferences. Originality/value – This study contributes to the OMC literature by suggesting a theoretical framework by extending the theory of planned behaviour and identifying consumers’ belief variables as antecedents of attitudes and perceived behavioural control in the OMC context. In addition, the study examines the role of clothing involvement in facilitating consumers’ OMC beliefs, suggesting the crucial role of clothing involvement as one of individual factors extending theory of planned behaviour framework, in the OMC process.

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20

Pastor-Bernier, Alexandre, Charles R. Plott, and Wolfram Schultz. "Monkeys choose as if maximizing utility compatible with basic principles of revealed preference theory." Proceedings of the National Academy of Sciences 114, no. 10 (February 15, 2017): E1766—E1775. http://dx.doi.org/10.1073/pnas.1612010114.

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Revealed preference theory provides axiomatic tools for assessing whether individuals make observable choices “as if” they are maximizing an underlying utility function. The theory evokes a tradeoff between goods whereby individuals improve themselves by trading one good for another good to obtain the best combination. Preferences revealed in these choices are modeled as curves of equal choice (indifference curves) and reflect an underlying process of optimization. These notions have far-reaching applications in consumer choice theory and impact the welfare of human and animal populations. However, they lack the empirical implementation in animals that would be required to establish a common biological basis. In a design using basic features of revealed preference theory, we measured in rhesus monkeys the frequency of repeated choices between bundles of two liquids. For various liquids, the animals’ choices were compatible with the notion of giving up a quantity of one good to gain one unit of another good while maintaining choice indifference, thereby implementing the concept of marginal rate of substitution. The indifference maps consisted of nonoverlapping, linear, convex, and occasionally concave curves with typically negative, but also sometimes positive, slopes depending on bundle composition. Out-of-sample predictions using homothetic polynomials validated the indifference curves. The animals’ preferences were internally consistent in satisfying transitivity. Change of option set size demonstrated choice optimality and satisfied the Weak Axiom of Revealed Preference (WARP). These data are consistent with a version of revealed preference theory in which preferences are stochastic; the monkeys behaved “as if” they had well-structured preferences and maximized utility.

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21

Sugden, Robert, and Peter C. Fishburn. "Nonlinear Preference and Utility Theory." Economic Journal 99, no. 398 (December 1989): 1191. http://dx.doi.org/10.2307/2234100.

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22

Loomes, Graham, and Peter C. Fishburn. "Nonlinear Preference and Utility Theory." Economica 56, no. 224 (November 1989): 537. http://dx.doi.org/10.2307/2554336.

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23

Trostel, Philip A., and Grant A. Taylor. "A Theory of Time Preference." Economic Inquiry 39, no. 3 (July 2001): 379–95. http://dx.doi.org/10.1093/ei/39.3.379.

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Syll, L. P. "Cassel and Revealed Preference Theory." History of Political Economy 25, no. 3 (September 1, 1993): 499–514. http://dx.doi.org/10.1215/00182702-25-3-499.

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Roberts, Fred, and Alexis Tsoukiás. "Voting theory and preference modeling." Mathematical Social Sciences 57, no. 3 (May 2009): 289–91. http://dx.doi.org/10.1016/j.mathsocsci.2008.12.005.

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Naval, Gloria, Teófilo Brezmes, and Carlo Bertoluzza. "A generalized theory of preference." Information Sciences 113, no. 3-4 (February 1999): 313–22. http://dx.doi.org/10.1016/s0020-0255(98)10070-1.

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Trapp, Rainer W. "Utility theory and preference logic." Erkenntnis 22, no. 1-3 (January 1985): 301–39. http://dx.doi.org/10.1007/bf00269972.

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Wildavsky, Aaron. "Choosing Preferences by Constructing Institutions: A Cultural Theory of Preference Formation." American Political Science Review 81, no. 1 (March 1987): 3–21. http://dx.doi.org/10.2307/1960776.

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Preferences come from the most ubiquitous human activity: living with other people. Support for and opposition to different ways of life, the shared values legitimating social relations (here called cultures) are the generators of diverse preferences. After discussing why it is not helpful to conceive of interests as preferences or to dismiss preference formation as external to organized social life, I explain how people are able to develop many preferences from few clues by using their social relations to interrogate their environment. The social filter is the source of preferences. I then argue that culture is a more powerful construct than conceptual rivals: heuristics, schemas, ideologies. Two initial applications—to the ideology of the left-right distinctions and to perceptions of danger—test the claim that this theory of how individuals use political cultures to develop their preferences outperforms the alternatives.

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Hu, Gaoji, Jiangtao Li, and Rui Tang. "The revealed preference theory of stable matchings with one-sided preferences." Games and Economic Behavior 124 (November 2020): 305–18. http://dx.doi.org/10.1016/j.geb.2020.08.015.

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Smallman, Rachel, and Neal J. Roese. "Preference Invites Categorization." Psychological Science 19, no. 12 (December 2008): 1228–32. http://dx.doi.org/10.1111/j.1467-9280.2008.02229.x.

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Past research indicates that positive affect (relative to neutral or negative affect) reduces processing and makes categorization less differentiated. The present experiment demonstrated that preference, even though affectively pleasant, invites finer categorization. Expertise is already known to influence categorization; hence, the present experiment used an associative conditioning task (novel symbols paired with positively or negatively valenced photographs) to create new preferences, thereby demonstrating that preference influences categorization independently of preexisting expertise. These findings cast new light on established theory of affect and cognitive processing and suggest new implications for consumer preference and goal pursuit.

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Duan, Yinfei, Weiwen Ng, and Tetyana P. Shippee. "VALIDATING THE PREFERENCES ASSESSMENT TOOL FOR NURSING HOME RESIDENTS USING ITEM RESPONSE THEORY." Innovation in Aging 3, Supplement_1 (November 2019): S341—S342. http://dx.doi.org/10.1093/geroni/igz038.1238.

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Abstract The Preference Assessment Tool (PAT), part of the Minimum Data Set (MDS), assesses residents’ preferences to enable preference-based care in nursing homes (NHs). The two PAT sections including daily routine preferences and activity preferences are assumed to measure autonomy and meaningful activities as the underlying constructs associated with residents’ psychosocial needs. Yet, the validity of this assumption has not been tested. This study examines PAT’s construct validity using item response theory. We fitted graded response models to the two PAT sections using 2017 MDS annual assessments of 8,829 long-stay residents in 291 Minnesota NHs. Most items discriminated well between residents who had at a low versus high intensity of these two types of psychosocial needs (i.e. have discrimination parameters > 1). Two daily routine preference items (family’s involvement in care planning, and having snacks), and three activity preference items (having pets, keeping up with news, and reading) had poor discrimination in measuring autonomy and meaningful activities respectively. Overall, the PAT appeared to be more sensitive in measuring the lower middle range of the two constructs. We estimated the correlation between the two constructs as 0.65. In conclusion, the PAT performs fairly well in measuring the two types of psychosocial needs for NH residents. Nevertheless, more items are needed to capture a broader range of psychosocial needs beyond autonomy or basic leisure activities. The findings of this study brought attention to the utility of the PAT in measuring residents’ psychosocial needs and in guiding resident-centered care.

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Gandjour, Afschin. "Theoretical Foundation of Patient v. Population Preferences in Calculating QALYs." Medical Decision Making 30, no. 4 (May 28, 2010): E57—E63. http://dx.doi.org/10.1177/0272989x10370488.

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The cost-effectiveness of health care interventions is often evaluated using quality-adjusted life years (QALYs) as a measure of outcome. There is a debate on whether QALYs should use patient preferences as opposed to community preferences. This article shows that patient preferences have a theoretical foundation in preference-utilitarian theory and welfare economics. In contrast, this study found no compelling theoretical basis for community preferences. There is a need for further development of a normative framework to inform the choice of preference source.

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Brenner, Lyle, and Baler Bilgin. "Preference, projection, and packing: Support theory models of judgments of others’ preferences." Organizational Behavior and Human Decision Processes 115, no. 1 (May 2011): 121–32. http://dx.doi.org/10.1016/j.obhdp.2010.11.007.

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Shepherd, Daniel, and Nicola Sigg. "Music Preference, Social Identity, and Self-Esteem." Music Perception 32, no. 5 (June 1, 2015): 507–14. http://dx.doi.org/10.1525/mp.2015.32.5.507.

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Social identity theory posits that membership to social groups serves to enhance and maintain self-esteem. In young people music plays a prominent role in defining social identity, and so a relationship between music preference and self-esteem is expected, but is as yet unconfirmed by the literature. The objective of this study was to further examine the association between music preference and the self-esteem, and to apply social identity theory to differences in music preferences and self-esteem. The present study measured self-esteem from university students (n = 199) using Rosenberg’s (1965) self-esteem scale, and employed confirmatory factor analysis to derive a representative model of the self-esteem data. Music preference scores for clusters of music genres were found to significantly correlate with self-esteem. Furthermore, some measures of group differentiation based on music preference were significantly associated with self-esteem, but the relationships differed depending on gender. Overall, the results provided both support and challenges for social identity theory.

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35

Hausman, Daniel M. "Revealed preference, belief, and game theory." Economics and Philosophy 16, no. 1 (April 2000): 99–115. http://dx.doi.org/10.1017/s0266267100000158.

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The notion of ‘revealed preference’ is unclear and should be abandoned. Defenders of the theory of revealed preference have misinterpreted legitimate concerns about the testability of economics as the demand that economists eschew reference to (unobservable) subjective states. As attempts to apply revealed-preference theory to game theory illustrate with particular vividness, this demand is mistaken.

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Stephens, D. W., J. F. Lynch, A. E. Sorensen, and C. Gordon. "Preference and Profitability: Theory and Experiment." American Naturalist 127, no. 4 (April 1986): 533–53. http://dx.doi.org/10.1086/284501.

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Galambos, Adam. "Descriptive complexity and revealed preference theory." Mathematical Social Sciences 101 (September 2019): 54–64. http://dx.doi.org/10.1016/j.mathsocsci.2019.06.006.

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Hands, D. W. "Paul Samuelson and Revealed Preference Theory." History of Political Economy 46, no. 1 (February 10, 2014): 85–116. http://dx.doi.org/10.1215/00182702-2398939.

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Pekarik, Andrew J., James B. Schreiber, Nadine Hanemann, Kelly Richmond, and Barbara Mogel. "IPOP: A Theory of Experience Preference." Curator: The Museum Journal 57, no. 1 (January 2014): 5–27. http://dx.doi.org/10.1111/cura.12048.

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Smeulders, Bart, Yves Crama, and Frits C. R. Spieksma. "Revealed preference theory: An algorithmic outlook." European Journal of Operational Research 272, no. 3 (February 2019): 803–15. http://dx.doi.org/10.1016/j.ejor.2018.04.026.

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Nau, Robert. "Risk, ambiguity, and state-preference theory." Economic Theory 48, no. 2-3 (June 12, 2011): 437–67. http://dx.doi.org/10.1007/s00199-011-0632-8.

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Hands, D. Wade. "Foundations of Contemporary Revealed Preference Theory." Erkenntnis 78, no. 5 (September 9, 2012): 1081–108. http://dx.doi.org/10.1007/s10670-012-9395-2.

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Beenstock, Michael. "A theory of home currency preference." Weltwirtschaftliches Archiv 122, no. 2 (June 1986): 223–32. http://dx.doi.org/10.1007/bf02705740.

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Arlen, Jennifer, and Lewis A. Kornhauser. "Does the Law Change Preferences?" Theoretical Inquiries in Law 22, no. 2 (July 1, 2021): 175–213. http://dx.doi.org/10.1515/til-2021-0021.

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Abstract “I would prefer not” HERMAN MELVILLE, BARTLEBY THE SCRIVENER: A STORY OF WALL STREET (1853), reprinted in THE PIAZZA TALES 32, 48 (London, Sampson Low, Son & Co. 1856). Scholars have recently challenged the claim in classical deterrence theory that law influences behavior only through the expected sanction imposed. Some go further and argue that law may also “shape preferences,” changing people’s wants and values. In this Article, we analyze existing claims that criminal and civil law alter preferences and conclude that none suggest that the law shapes preferences. We first clarify this preference-shaping claim by elaborating the structure of rational choice theory generally and “preference” in particular. We then investigate three mechanisms of legal influence suggested by the preference-shaping literature: (1) the “serious harm” mechanism; (2) the “social norm” mechanism; and (3) the “self-improvement” mechanism. We then show that each of these mechanisms operates by changing the agent’s beliefs about the attributes or consequences of her choice options rather than by changing her preferences.

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Hansen, Kasper M., and Karina Kosiara-Pedersen. "How campaigns polarize the electorate." Party Politics 23, no. 3 (June 30, 2015): 181–92. http://dx.doi.org/10.1177/1354068815593453.

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The minimal effect theory of campaign studies stipulates that intense political competition during campaigns assures and reinforces the initial party choice of the electorate. We find that this reinforcement is two-fold. During the campaign, the party preference of the voters’ in-group party increases while the party preference of the voters’ out-group parties decreases. Voters’ preference for their most preferred party (MPP) increases during the election campaign, while their preference for their least liked party decreases during the campaign (LPP). Across parties voters experience an increase in their preference for their most preferred party and a decrease for their least liked party as the campaign progresses. These trends show that the political campaign polarizes the electorate by increasing the affective distance between in-group party and out-group party preferences, thereby resulting in stronger political polarization after the campaign than before the campaign. The data utilized in this study is a large six-wave panel-study of Danish voters’ party preferences during the Danish parliamentary election of 2011. Thus, the analysis provides evidence of the minimal effect theory and of political polarization within a multi-party context.

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Neumann-Böhme, Sebastian, Stefan A. Lipman, Werner B. F. Brouwer, and Arthur E. Attema. "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." European Journal of Health Economics 22, no. 5 (March 20, 2021): 679–97. http://dx.doi.org/10.1007/s10198-021-01283-3.

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AbstractOne 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.

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Snippe, J. "Loanable funds theory versus liquidity preference theory: A comment." De Economist 134, no. 1 (March 1986): 109–11. http://dx.doi.org/10.1007/bf01705904.

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Stamps, Arthur E. "Of Time and Preference: Temporal Stability of Environmental Preferences." Perceptual and Motor Skills 85, no. 3 (December 1997): 883–96. http://dx.doi.org/10.2466/pms.1997.85.3.883.

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Time is a central issue in discussions about art and in Berlyne's aesthetic theory. This article reports on the temporal stabilities of preferences for a novel and controversial building at three times after construction (2 years, 18 years, 23 years), and public preferences for 20 ordinary and noncontroversial buildings at three times over nine years. In all there were 5543 respondents. Analyses suggested that the initial response to the novel building was stable over the next 23 years, and the public responses for the 20 nonnovel buildings were stable over nine years. Implications for research are discussed.

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Schellekens, M. P. G., and H. J. P. Timmermans. "A Conjoint-Based Simulation Model of Housing-Market Clearing Processes: Theory and Illustration." Environment and Planning A: Economy and Space 29, no. 10 (October 1997): 1831–46. http://dx.doi.org/10.1068/a291831.

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Conjoint models of housing preferences typically derive preference functions from consumer responses to profiles of housing attributes generated experimentally. It is not readily evident how such housing preferences can be used to simulate actual housing choice. In this paper we provide conceptual considerations to link conjoint preferences to actual behaviour and discuss the principles of a simulation model. We illustrate the approach using as our example the effects of a rental subsidy on potential mobility.

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Baier, Kurt. "Rationality, Value, and Preference." Social Philosophy and Policy 5, no. 2 (1988): 17–45. http://dx.doi.org/10.1017/s0265052500000042.

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Gauthier's magnificent book erects a conception of morality, “morals by agreement,” on the foundation of his own theory of practical rationality. This is as it should be if, as he claims, following Hobbes and others, there is an initial “presumption against morality” (MA, p. 13) and no theory of morals “can ever serve any useful purpose, unless it can show that all the duties it recommends are also truly endorsed in each individual's reason” (MA, p.1), indeed, that it is a requirement of rationality that one always satisfy the requirements of morality (MA, p.5). This means, however, that the initial assumption against morality is inherited by his theory of practical rationality. His theory of morals therefore can serve a useful purpose only if his theory of rationality is sound. In this paper, I want to explore some of the more dubious aspects of that theory to see whether it can bear the heavy load of justification that “morals by agreement” places on it.

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