Tom Sawyer and the construction of value
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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.
Published Version (Please cite this version)10.1016/j.jebo.2004.10.003
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James B. Duke Distinguished Professor of Behavioral Economics
HI, I'M DAN ARIELY. I do research in behavioral economics and try to describe it in plain language. These findings have enriched my life, and my hope is that they will do the same for you. My immersive introduction to irrationality took place many years ago while I was overcoming injuries sustained in an explosion. The range of treatments in the burn department, and particularly the daily “bath” mad