Preference Reversal & Associated Matters

. We normally experience life in the between-subject mode in which contrasting alternatives that might change your mind are absent and WYSIATI. This means

"...the beliefs that you endorse when you reflect about morality do not necessarily govern your emotional reactions, and the moral intuitions that come to mind in different situations are not internally consistent. The discrepancy between single and joint evaluations...... belongs to a broad family of reversals of judgement and choice..."

Daniel Kahneman 2012

. For example, you are asked to choose between a safe bet and a risky one, ie an almost certain win of a modest amount, or a small chance to win a substantial larger amount and a higher probability of losing. Safety prevails and the first is the most popular choice. This can be reversed if each situation is evaluated separately and not compared.

Remember: individual choices do depend upon the context in which the choices are made, ie circumstances

. Our world is broken into categories which we have norms

"...Judgment and preferences are coherent within categories but potentially incoherent when the objects that we are evaluating different categories..."

Daniel Kahneman 2012

. Evaluability hypothesis = the number of entries is given no weight in single evaluation, because the numbers are not evaluable on their own. With joint evaluations it is immediately obvious that something is superior. Single evaluations are more likely to involve emotions; multiple evaluations tend to be more rational

 

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