Inherent, constructed, revealed preferences: Guidelines for marketers

Author/s Gabriele Paolacci
Publishing Year 2011 Issue 2011/3
Language English Pages 20 P. 147-166 File size 892 KB
DOI 10.3280/MC2011-003009
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A theory of preferences was recently proposed on how consumers’ choices depend on both stable “inherent” likings and sensitivity to framing, task, and context effects (Simonson, 2008). Managers can employ this approach to overcome the contradictions exhibited so far in their treatment of preferences, and ultimately improve the outcome of the marketing process. The article proposes some practical methods to discover chronic dispositions and preference constructability, and suggests how to strategize over the inherent and the constructed components of consumer preferences.

Keywords: Consumer preferences, behavioral decision theory, decision-making, framing effects, task effects, context effects

Gabriele Paolacci, Inherent, constructed, revealed preferences: Guidelines for marketers in "MERCATI E COMPETITIVITÀ" 3/2011, pp 147-166, DOI: 10.3280/MC2011-003009