CHOICES, VALUES AND FRAMES, D. Kahneman & A. Tversky, eds., Cambridge University Press, 2000
21 Pages Posted: 11 Oct 2006
The evaluability hypothesis posits that when two objects are evaluated separately, whether a given attribute of the objects can differentiate the evaluations of these objects depends on whether the attribute is easy or difficult to evaluate independently. The article discusses how the evaluability hypothesis explains joint-separate evaluation reversal, which is the phenomenon that the rank order of the evaluations of multiple objects changes depending on whether these objects are evaluated jointly or separately. The article presents empirical evidence for the evaluability hypothesis. The final section of the article discusses implications of the hypothesis for issues beyond reversals-in particular for inconsistencies between decisions and their consequences. Decisions are typically made in the joint evaluation mode, and outcome of a decision is usually experienced (or consumed) in the separate evaluation mode. Thus, reversals between joint and separate evaluation may manifest themselves in decision-consumption inconsistencies.
Keywords: evaluability, joint evaluation, separate evaluation, preference reversal, scope-insensitivity, dominance violation
JEL Classification: D81, D11, D12, D91
Suggested Citation: Suggested Citation
Hsee, Christopher K., Attribute Evaluability and Its Implications for Joint-Separate Evaluation Reversals and Beyond. CHOICES, VALUES AND FRAMES, D. Kahneman & A. Tversky, eds., Cambridge University Press, 2000. Available at SSRN: https://ssrn.com/abstract=936581