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Title:Preferences for consistency PDF Logo
Authors:Falk, Armin
Zimmermann, Florian
Issue Date:2011
Series/Report no.:CESifo working paper: Behavioural Economics 3528
Abstract:This paper studies how a preference for consistency can affect economic decision-making. We propose a two-period model where people have a preference for consistency because consistent behavior allows them to signal personal and intellectual strength. We then present three experiments that study main predictions and implications of the model. The first is a simple principal-agent experiment that shows that consistency is valued by others and that this value is anticipated. The second experiment underlines the crucial role of early commitment for consistency preferences. Finally we show how preferences for consistency can be used to manipulate choices.
Subjects:consistency preferences
experiments
early commitment
charitable giving
social influence
JEL:C91
D03
D64
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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