Preferences for Consistency

Armin Falk and Florian Zimmermann

No 8519, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: This paper studies how a preference for consistency can affect economic decisionmaking. We propose a two-period model where people have a preference for consistency because consistent behavior allows them to signal personal and intellectual strength. We then present three experiments that study main predictions and implications of the model. The first is a simple principal-agent experiment that shows that consistency is valued by others and that this value is anticipated. The second experiment underlines the crucial role of early commitment for consistency preferences. Finally we show how preferences for consistency can be used to manipulate choices.

Keywords: Consistency preferences; Experiments; Early commitment; Charitable giving; Social influence (search for similar items in EconPapers)
JEL-codes: C91 D03 D64 (search for similar items in EconPapers)
Date: 2011-08
New Economics Papers: this item is included in nep-evo, nep-exp and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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Working Paper: Preferences for Consistency (2011)
Working Paper: Preferences for Consistency (2011)
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