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Title:Tom Sawyer and the construction of value PDF Logo
Authors:Ariely, Dan
Loewenstein, George
Prelec, Drazen
Issue Date:2005
Series/Report no.:Working paper series // Federal Reserve Bank of Boston 05-10
Abstract:This paper challenges the common assumption that economic agents know their tastes. After reviewing previous research showing that valuation of ordinary products and experiences can be manipulated by non-normative cues, we present three studies showing that in some cases people do not even have a pre-existing sense of whether an experience is good or bad - even when they have experienced a sample of it.
preference uncertainty
coherent arbitrariness
Document Type:Working Paper
Appears in Collections:Working Paper Series, Federal Reserve Bank of Boston

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