TY - JOUR
T1 - Economic Preferences or Attitude Expressions?
T2 - An Analysis of Dollar Responses to Public Issues
AU - Kahneman, Daniel
AU - Ritov, Ilana
AU - Schkade, David
PY - 1999
Y1 - 1999
N2 - Participants in contingent valuation surveys and jurors setting punitive damages in civil trials provide answers denominated in dollars. These answers are better understood as expressions of attitudes than as indications of economic preferences. Well-established characteristics of attitudes and of the core process of affective valuation explain several robust features of dollar responses: high correlations with other measures of attractiveness or aversiveness, insensitivity to scope, preference reversals, and the high variability of dollar responses relative to other measures of the same attitude.
AB - Participants in contingent valuation surveys and jurors setting punitive damages in civil trials provide answers denominated in dollars. These answers are better understood as expressions of attitudes than as indications of economic preferences. Well-established characteristics of attitudes and of the core process of affective valuation explain several robust features of dollar responses: high correlations with other measures of attractiveness or aversiveness, insensitivity to scope, preference reversals, and the high variability of dollar responses relative to other measures of the same attitude.
KW - Attitudes
KW - Contingent valuation
KW - Preferences
KW - Psychology and economics
KW - Utility assessment
UR - http://www.scopus.com/inward/record.url?scp=0043079984&partnerID=8YFLogxK
U2 - 10.1023/a:1007835629236
DO - 10.1023/a:1007835629236
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AN - SCOPUS:0043079984
SN - 0895-5646
VL - 19
SP - 203
EP - 235
JO - Journal of Risk and Uncertainty
JF - Journal of Risk and Uncertainty
IS - 1-3
ER -