Choice Bracketing

Read, Daniel; Loewenstein, George; Rabin, Matthew; Keren, Gideon; Laibson, David

doi:10.1007/978-94-017-1406-8_7

Cited by 271 publications

(371 citation statements)

References 48 publications

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“…Neither group favoured the most restrictive diet (calorie control). Mela (13) argues that rigid adherence to a strict diet is less successful than a flexible approach, while Read et al argue that focusing on each day can aid self-control (14) . The intervention diet recommended that participants monitor their energy intake and output but left decisions on food intake to individuals.…”

Section: Discussionmentioning

confidence: 99%

Individual preferences for diet and exercise programmes: changes over a lifestyle intervention and their link with outcomes

Owen

Pettman

Haas

et al. 2009

Public Health Nutr.

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Objective: To investigate the influence of a trial lifestyle intervention on participants' preferences for a range of exercise and diet programmes and whether these differ between successful and unsuccessful participants. Design: Hypothetical scenarios that describe attributes of diet and exercise programmes were developed using an experimental design. Participants completed an online questionnaire at baseline, 16 weeks and 12 months where they chose their most preferred of three programmes in each of sixteen scenarios. Discrete choice modelling was used to identify which attributes participants emphasised at each time point. Subjects: Fifty-five individuals who exhibited symptoms of metabolic syndrome and who participated in a 16-week trial lifestyle intervention. Results: There was a clear shift in programme preferences from structure to flexibility over the intervention. At baseline, emphasis was on individually designed and supervised exercise, structured diets and high levels of support, with Gainers focusing almost exclusively on support and supervision. Losers tended to consider a wider range of programme attributes. After 16 weeks preferences shifted towards self-directed rather than organised/supervised exercise and support was less important (this depended on the type of participant and whether they were in the follow-up group). Cost became significant for Gainers following the end of the primary intervention. Conclusions: The stated preference method could be a useful tool in identifying potential for success and specific needs. Gainers' relinquishment of responsibility for lifestyle change to programme staff may be a factor in their failure and in their greater cost sensitivity, since they focus on external rather than internal resources. KeywordsExercise Diet Weight loss Obesity Preferences Although substantial research continues into different treatment regimes and interventions for lifestyle change, there is still little published work that examines participants' experiences over an intervention period and its aftermath. Most research examining the success or otherwise of weight and/or metabolic interventions has been retrospective or conducted at a single point in time (1,2) . These studies point to a range of demographic, socio-economic, psychological and behavioural factors that can contribute to either failure to lose weight or weight regain (3)(4)(5)(6) . In the only study we were able to identify that examined participants' experiences over the course of an intervention and its follow-up, Jeffery et al. reported that initial enthusiasm and weight loss were followed by waning enthusiasm and weight regain, and those with lower weight loss experienced greater levels of negative feelings and lower satisfaction (2) . While Jeffery et al.'s study provides insights into participants' feelings and self-reported compliance, little is known about the dynamics between individuals' perceptions of an ideal lifestyle change programme and the reality of an intervention. Evaluation of these dynamics...

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Section: Discussionmentioning

confidence: 99%

Individual preferences for diet and exercise programmes: changes over a lifestyle intervention and their link with outcomes

Owen

Pettman

Haas

et al. 2009

Public Health Nutr.

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“…Rabin (2000) shows that individuals tend to make conservative decisions concerning monetary gambles in ways that cannot be rationalized by any plausible degree of risk aversion. And both individuals and firms tend to view risky decisions in isolation and to exhibit risk aversion regarding them even when their implications for the risk of the individual's wealth or the firm's profits are minimal (e.g., Kahneman and Lovallo 1993;Read, Loewenstein, and Rabin 1999).…”

Section: Discussionmentioning

confidence: 99%

Do Firms Maximize? Evidence from Professional Football

Romer

2006

Journal of Political Economy

161

119

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This paper examines a single, narrow decision-the choice on fourth down in the National Football League between kicking and trying for a first down-as a case study of the standard view that competition in the goods, capital, and labor markets leads firms to make maximizing choices. Play-by-play data and dynamic programming are used to estimate the average payoffs to kicking and trying for a first down under different circumstances. Examination of actual decisions shows systematic, clear-cut, and overwhelmingly statistically significant departures from the decisions that would maximize teams' chances of winning. Possible reasons for the departures are considered.

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“…86 There may, however, be some psychological realism to the assumption of narrow bracketing. Indeed, there is a literature that suggests that when people make multiple choices, they frequently do not assess the consequences in an integrated way, but rather tend to make each choice in isolation (e.g., Read, Loewenstein, and Rabin 1999).…”

Section: Assumptions About Mental Accountingmentioning

confidence: 99%

Estimating Risk Preferences in the Field

Barseghyan

Molinari

O’Donoghue

et al. 2018

Journal of Economic Literature

123

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We survey the literature on estimating risk preferences using field data. We concentrate our attention on studies in which risk preferences are the focal object and estimating their structure is the core enterprise. We review a number of models of risk preferences—including both expected utility (EU) theory and non-EU models—that have been estimated using field data, and we highlight issues related to identification and estimation of such models using field data. We then survey the literature, giving separate treatment to research that uses individual-level data (e.g., property-insurance data) and research that uses aggregate data (e.g., betting-market data). We conclude by discussing directions for future research. ( JEL C51, D11, D81, D82, D83, G22, I13)

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Choice Bracketing

Cited by 271 publications

References 48 publications

Individual preferences for diet and exercise programmes: changes over a lifestyle intervention and their link with outcomes

Individual preferences for diet and exercise programmes: changes over a lifestyle intervention and their link with outcomes

Do Firms Maximize? Evidence from Professional Football

Estimating Risk Preferences in the Field

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