This paper reports an exercise in adversarial collaboration. An adversarial collaboration is an investigation carried out jointly by two individuals or research groups who, having proposed conflicting hypotheses, seek to resolve the issue in dispute. The experiment reported was designed to...

We undertake a series of tests examining the extent to which the affect heuristic (Slovic et al., 2002) is or is not triggered by changes in the framing and hence context of assessments of hypothetical gamble tasks using a rating scale response mode. Our initial investigations examine the...

In recent years there has been increasing interest in using the related concepts of affect and evaluability to understand a wide range of decision behaviours. However, a common feature of studies to date is that they have adopted hypothetical payoff designs. Such an approach is open to...

Economics conventionally assumes that preferences are coherent, i.e. stable, context-independent, and consistent with axioms of rationality. Since these assumptions underpin standard interpretations of cost-benefit analysis (CBA), preference 'anomalies' found in stated preference surveys pose...

This paper proposes a formulation of consumer sovereignty, for use in normative economics, which does not presuppose individuals' preferences to be coherent. The fundamental intuition, that opportunity and responsibility have moral value, is formalised as a responsibility criterion for assessing...