Concept information
Preferred term
preference formation
Definition
- The concept of preference formation deals with two questions that are basic in social psychology and philosophy, of some importance in consumer research and political science but of explicit disinterest in mainstream economics: how preferences are acquired and how they are modified. Preference is a concept that assumes a real or imagined “choice” or active selection between alternatives according to a rank ordering based on their respective values or utilities. [Source: Encyclopedia of Consumer Culture; Preference Formation]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/preference_formation
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