Preference reversal in intertemporal decision making

This study examines asymmetric preference reversals in intertemporal decision-making by comparing gain and loss contexts across choice and bidding tasks. In the gain context, participants preferred smaller, sooner (SS) rewards in choice tasks but assigned higher valuations to larger, later (LL) rewards in bidding tasks. Conversely, in the loss context, they showed a preference for LL options in choice tasks but provided lower bids for SS options. Bidding tasks consistently required longer decision times than choice tasks, indicating greater cognitive demands during valuation processes. A real-world questionnaire involving 370 participants validated these findings across economic and health-related scenarios. These results underscore the role of task formats in shaping preferences, offering practical insights for refining strategies in behavioral decision-making and applied contexts.

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Publication Details

Journal
Frontiers in Psychology
Published
2024-12-04
DOI
https://doi.org/10.3389/fpsyg.2024.1423615
Citations
2
Primary Topic
Decision-Making and Behavioral Economics
Type
article
Field-Weighted Citation Impact
1.07

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article

Preference reversal in intertemporal decision making

Hong-Kun Zhai, Junhua Dang, Yan-Bang Zhou, Qing Bao et al.
2 citations
Frontiers in Psychology
Decision-Making and Behavioral Economics
1.07
article

Preference reversal in intertemporal decision making

Hong-Kun Zhai, Junhua Dang, Yan-Bang Zhou, Qing Bao, Kun Zhang, Shanshan Xiao
article en
2 citations

Abstract

This study examines asymmetric preference reversals in intertemporal decision-making by comparing gain and loss contexts across choice and bidding tasks. In the gain context, participants preferred smaller, sooner (SS) rewards in choice tasks but assigned higher valuations to larger, later (LL) rewards in bidding tasks. Conversely, in the loss context, they showed a preference for LL options in choice tasks but provided lower bids for SS options. Bidding tasks consistently required longer decision times than choice tasks, indicating greater cognitive demands during valuation processes. A real-world questionnaire involving 370 participants validated these findings across economic and health-related scenarios. These results underscore the role of task formats in shaping preferences, offering practical insights for refining strategies in behavioral decision-making and applied contexts.

Frontiers in PsychologyVol. 15
Tianjin Normal University (CN), Stockholm University (SE), Ningxia University (CN), Xi'an Jiaotong University (CN)
Jilin Office of Philosophy and Social Science
Peace, Justice and strong institutions
Openalex Percentile: Top 21%
Decision-Making and Behavioral Economics
1.07
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