Constructing Preferences from Memory
Elke U. Weber
Columbia Business School - Management & Psychology
Eric J. Johnson
Columbia Business School - Marketing
The Construction of Preference, Lichtenstein, S. & Slovic, P., (eds.), pp. 397-410, New York, NY, Cambridge University Press, 2006
Our memories define who we are and what we do. Aside from a few preferences hardwired by evolution, they also define what we like and how we choose. In this chapter, we argue that our view of preference changes if conceptualized explicitly as the product of memory representations and memory processes. We draw on insights about the functions and operations of memory provided by cognitive psychology and social cognition to show that memory plays a crucial role in preference and choice. We examine memory processes in preference and choice at a more "micro" and process-oriented level than previous investigations into the role of memory processes, but at a level that is cognitive and functional, rather than computational. We suggest that a consideration of properties of memory representation and retrieval may provide a unifying explanatory framework for some seemingly disparate preference phenomena.
Number of Pages in PDF File: 26working papers series
Date posted: November 17, 2008 ; Last revised: August 31, 2011
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