Preference Reversals Induced By Self And Other Different Decision Roles

Preference reversal phenomenon is the phenomenon that non-economic factors give rise to reverse preference states which was confirmed to widely exit in daily human being decision behaviors. Former related researchs indicated that preference reversal phenomenon could be induced by different response forms, or different evaluation forms, but never refered to the variable of decision role. This research introduces decision roles, self and other, which would probably induce preference reversal phenomenon. We set two experiments, including money risky decision domain and time risky decision domain, to explore the effect of different decision roles on preference reversal phenomenons. Meanwhile, by two experiments, we discuss the effects of risk probability and decision frame (win or lost) on preference reversal phenomenon rate. Furthermore, we explore individuals' risky prefence trend when preference reversal phenomenon occurs, respectively under self and other different decision roles.The results indicate, (1) both in money risky decision domain and time risky decision domain, self and other different decision roles will actually induce preference reversal phenomenon; (2) both in two decision domains, preference reversal phenomenon rate is variable to risky probability and win/lost decision frame; (3) in time risky decision domain, preference reversal phenomenon rate in lost decision frame is prominently higher than in win decision frame, which means framing effect exists; (4) in time risky decision domain, when preference reversal phenomenon occurs, individuals tend to be risk seeking in self decision context, and be risk averse in other decision context.