Cited by 410Decision-Making and Behavioral EconomicsEconomic and Environmental ValuationExperimental Behavioral Economics Studies

General Evaluability Theory

Hsee, Christopher K., Zhang, Jiao·2010·Perspectives on Psychological Science

Abstract

A central question in psychology and economics is the determination of whether individuals react differently to different values of a cared-about attribute (e.g., different income levels, different gas prices, and different ambient temperatures). Building on and significantly extending our earlier work on preference reversals between joint and separate evaluations, we propose a general evaluability theory (GET) that specifies when people are value sensitive and when people mispredict their own or others' value sensitivity. The GET can explain and unify many seemingly unrelated findings, ranging from duration neglect to affective forecasting errors and can generate many new research directions on topics ranging from temporal discounting to subjective well-being.

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Authors
Hsee, C. K., & Zhang, J.
Affiliations
  • University of Chicago (US)
  • University of Miami (US)
Venue
Perspectives on Psychological Science
Published
2010-07
Volume
5
Issue
4
Pages
343-355
ISSN
  • 1745-6916 (ISSN-L)
  • 1745-6924
OpenAlex
W1997137767
Cited by
410
References
63
Citations by year
2026: 20 · 2025: 18 · 2024: 25 · 2023: 68 · 2022: 33 · 2021: 31 · 2020: 22 · 2019: 30 · 2018: 28 · 2017: 26 · 2016: 18 · 2015: 23 · 2014: 24 · 2013: 20 · 2012: 14
FWCI
1.09
Type
journal article
Language
en
Open access
closed
Locations
  • Perspectives on Psychological Science (publishedVersion)
  • PubMed (publishedVersion)
Funders
John Templeton Foundation
Topics
  • Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic and Environmental Valuation
  • Social Sciences › Safety Research › Experimental Behavioral Economics Studies
Keywords
value sensitivity, preference reversal, delay discounting, subjective well-being

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