Preferences for consistency

Arbeitspapier

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CESifo Working Paper ; No. 3528

Classification and Topics

• Classification: Wirtschaft ; Design of Experiments: Laboratory, Individual ; Altruism; Philanthropy; Intergenerational Transfers
• Subject: consistency preferences ; experiments ; early commitment ; charitable giving ; social influence ; Präferenztheorie ; Test ; Wohltätigkeit ; Spende ; Soziale Beziehungen

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Falk, Armin ; Zimmermann, Florian
• Event: Veröffentlichung
• (who): Center for Economic Studies and ifo Institute (CESifo)
• (where): Munich
• (when): 2011

Further information

• Handle: http://hdl.handle.net/10419/49462
• Last update: 10.03.2025, 11:42 AM CET