“…The preference-reversal literatures reviewed in this section refute a basic assumption of rational choice model, that preferences are stable, and support an important proposition of behavioral decision theory, that preferences are constructed and labile (e.g., Bettman, Luce, & Payne, 1998;Payne, 1982;Chapter 6, this volume;Payne, Bettman, & Johnson, 1992;Slovic, 1995 A potentially more important topic is substantive inconsistency of decisions --people's failure to choose the best option according to some external, substantive criterion (e.g., Hammond, 1996;Kahneman, 1994;Kahneman & Snell, 1990Chapter 1, this volume;Sen, 1993). What would be a reasonable substantive criterion for decisions?…”