Psych 458 - Questions to ponder
4/14/99 Shafir, Simonson, & Tversky (1993)
(Wilson et al., 1993 is optional)
1. Contrast reasons-based models with value-based models. What are the strengths and weaknesses of each in describing how we make decisions?
2. Why might we be especially likely to rely on reasons when two options are equated (e.g., like in the Slovic, 1975 study). Hint: You have to choose, but you don=t feel as if you have a preference (because you earlier constructed them to be equivalent in desirability).
3. What do Shafir et al. mean by an Aimpoverished@ option? An Aenriched@ one? Are we more likely to choose impoverished or enriched options? Which are we more likely to reject? Why is this interesting?
4. When conflict between available options is hard to resolve, what are two courses of action we may seek out?
5. In the Tversky and Shafir=s (1992) apartment example, subjects seek additional options when there is no clear preference between Apt. X and Apt. Y. However, when the same Apt. X is compared to a clearly inferior apartment, they are less likely to seek additional options. Similarly, when choices are close people are more likely to defer choosing, but if one of those same choices is presented by itself, they are less likely to defer choosing. Why can these behaviors be considered inconsistent? Why might it be wise to seek addtional options or wait when presented with a highly conflicted decision? (Note-- don=t look for the answer to this last question in the article; it=s not in there. Try to generate possibilities on your own.)
6. What is the asymmetric dominance effect? What is extremeness aversion? Do you think experienced photographers would show the extremeness aversion that Simonson and Tversky found in their study of cameras? Why or why not? To what extent learning about specific options educate us about the field of options? Why might this be adaptive?
7. Tversky and Shafir (1992) demonstrate that subjects are reluctant to pick a second gamble until they know whether they won or lost a first gamble. How did the results of the study in which everyone won the first gamble (just to varying degrees) differ? Why are these findings important in supporting the reason-based choice theory?
8. Your favorite cereal is cornflakes, but you aren=t picky about brands. You don=t like yo-yo=s. One brand of cornflakes is offering a free yo-yo in every box; the other brand, which is the same price, is not offering any free gift. According to Simonson, Carmon and O=Curry=s findings, which brand will you buy, and why?