Freedom, Power, and Interference

We propose a behavioral theory of preference for decision rights, driven by preference for freedom, power, and non-interference, which can lead subjects to value decision rights intrinsically, i.e. beyond the expected utility associated with them. We conduct a novel laboratory experiment in which the effect of each preference is distinguished. We find that the intrinsic value of decision rights is driven more strongly by preference for non-interference than by preference for freedom or power. This result suggests that individuals value decision rights not because they enjoy the freedom of making a choice, nor because they enjoy having power over other individuals, but rather because they dislike letting other individuals interfere in their outcomes. Our theoretical framework and experimental findings lead to a fundamental change in perspective on preference for decision rights.