Preference theory

Preference theory suggests that individuals make choices based on their personal tastes, priorities, and values, which shape how they prioritize different options. It assumes people have consistent preferences that guide decision-making, allowing them to rank alternatives according to what they find most desirable. This theory helps explain consistency in choices across various situations, as preferences are stable over time. Essentially, it sees human decision-making as driven by internal evaluations of options, resulting in preferences that influence how choices are made in areas like consumption, employment, and lifestyle.