Browsing by Author "Prelec, D"

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    Man's search for meaning: The case of Legos
    (Journal of Economic Behavior and Organization, 2008-09-01) Ariely, D; Kamenica, E; Prelec, D
    We investigate how perceived meaning influences labor supply. In a laboratory setting, we manipulate the perceived meaning of simple, repetitive tasks and find a strong influence on subjects' labor supply. Despite the fact that the wage and the task are identical across the conditions in each experiment, subjects in the less meaningful conditions exhibit reservation wages that are consistently much higher than the subjects in the more meaningful conditions. The result replicates across different types of tasks. Moreover, in the more meaningful conditions, subjects' productivity influences labor supply more strongly. © 2008 Elsevier B.V. All rights reserved.
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    Psychology, behavioral economics, and public policy
    (Marketing Letters, 2005-12-01) Amir, O; Ariely, D; Cooke, A; Dunning, D; Epley, N; Gneezy, U; Koszegi, B; Lichtenstein, D; Mazar, N; Mullainathan, S; Prelec, D; Shafir, E; Silva, J
    Economics has typically been the social science of choice to inform public policy and policymakers. In the current paper we contemplate the role behavioral science can play in enlightening policymakers. In particular, we provide some examples of research that has and can be used to inform policy, reflect on the kind of behavioral science that is important for policy, and approaches for convincing policy-makers to listen to behavioral scientists. We suggest that policymakers are unlikely to invest the time translating behavioral research into its policy implications, and researchers interested in influencing public policy must therefore invest substantial effort, and direct that effort differently than in standard research practices. © 2005 Springer Science + Business Media, Inc.
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    Tom Sawyer and the construction of value
    (2006-05-01) Ariely, D; Loewenstein, G; Prelec, D
    This paper challenges the common assumption that economic agents know their tastes. After reviewing previous research showing that valuation of ordinary products and experiences can be manipulated by non-normative cues, we present three studies showing that in some cases people do not have a pre-existing sense of whether an experience is good or bad-even when they have experienced a sample of it. © 2005 Elsevier B.V. All rights reserved.