... about their future enjoyment of the target product on day 7, participants assigned to this co... more ... about their future enjoyment of the target product on day 7, participants assigned to this condition first completed a Diary Study where ... Biswas, Abhijit, Chris Pullig, Mehmet I. Yagci, and Dwane H. Dean (2002), Consumer Evaluation of Low Price Guaran-tees: The Moderating ...
... actual experience of choosing. In contrast, cold regret is hypothesized to be construed at a ... more ... actual experience of choosing. In contrast, cold regret is hypothesized to be construed at a higher, more abstract level. ... Note, however, that we assume that in the case of hot regret, the vivid anticipation of the pain of choosing will ...
Why do affective forecasting errors persist in the face of repeated disconfirming evidence? Five ... more Why do affective forecasting errors persist in the face of repeated disconfirming evidence? Five studies demonstrate that people misremember their forecasts as consistent with their experience and thus fail to perceive the extent of their forecasting error. As a result, people do not learn from past forecasting errors and fail to adjust subsequent forecasts. In the context of a Super Bowl loss (Study 1), a presidential election (Studies 2 and 3), an important purchase (Study 4), and the consumption of candies (Study 5), individuals mispredicted their affective reactions to these experiences and subsequently misremembered their predictions as more accurate than they actually had been. The findings indicate that this recall error results from people's tendency to anchor on their current affective state when trying to recall their affective forecasts. Further, those who showed larger recall errors were less likely to learn to adjust their subsequent forecasts and reminding people o...
ABSTRACT When spending discretionary money, one of the most basic trade-offs consumers must make ... more ABSTRACT When spending discretionary money, one of the most basic trade-offs consumers must make is between spending on material versus experiential purchases, a trade-off with substantial consequences for well-being. We propose that feelings of financial constraint lead consumers to spend their discretionary money on material goods rather than experiences. Specifically, we propose that financially constrained consumers are particularly concerned about the lasting impact of their purchase, leading them to seek out purchases that physically persist over time. Across six studies, we find that the consideration of financial constraints shifts consumers’ preferences toward more material (rather than experiential) purchases, and that this systematic shift is due to an increased concern about the longevity of the purchase. Moreover, this preference shift persists even when the material options are more frivolous than the experiential ones, indicating that the effect is not driven by an increased desire for sensible and justifiable purchases. However, the shift towards material purchases disappears when the material purchase is unusually short-lived, suggesting that longevity is the key driver in our proposed process.
Page 1. Electronic copy available at: http://ssrn.com/abstract=2043657 1 Feeling Immoral about Mo... more Page 1. Electronic copy available at: http://ssrn.com/abstract=2043657 1 Feeling Immoral about Money: How Moral Emotions Influence Spending Decisions HYUN YOUNG PARK TOM MEYVIS Last updated on April 21st, 2012 ...
ABSTRACT Managers of new-to-the-market ingredient brands often use brand alliances to help establ... more ABSTRACT Managers of new-to-the-market ingredient brands often use brand alliances to help establish the identity of an ingredient brand name. One common form of a brand alliance is joint branding in which an ingredient brand name is promoted on the host brand package. For new-to-the-market or little known ingredient brands, joint branding is an opportunity for increased exposure, increased product trial, and the formation of stronger associations to benefits that characterize the host brand. Thus, it should not be surprising that new-to-the-market ingredient brands actively recruit well-established host brand partners. However, we will show that it is not the strength of the host brand associations to the target benefit that is responsible for changes in the perception of the ingredient brand. Instead, it is the level of improvement in the joint branded product relative to the host branded product that drives changes in perceptions about the benefits delivered by the ingredient brand. Therefore, ingredient brands may often benefit from an alliance with a host brand that has weaker, rather than stronger, associations with a key product benefit.
... about their future enjoyment of the target product on day 7, participants assigned to this co... more ... about their future enjoyment of the target product on day 7, participants assigned to this condition first completed a Diary Study where ... Biswas, Abhijit, Chris Pullig, Mehmet I. Yagci, and Dwane H. Dean (2002), Consumer Evaluation of Low Price Guaran-tees: The Moderating ...
... actual experience of choosing. In contrast, cold regret is hypothesized to be construed at a ... more ... actual experience of choosing. In contrast, cold regret is hypothesized to be construed at a higher, more abstract level. ... Note, however, that we assume that in the case of hot regret, the vivid anticipation of the pain of choosing will ...
Why do affective forecasting errors persist in the face of repeated disconfirming evidence? Five ... more Why do affective forecasting errors persist in the face of repeated disconfirming evidence? Five studies demonstrate that people misremember their forecasts as consistent with their experience and thus fail to perceive the extent of their forecasting error. As a result, people do not learn from past forecasting errors and fail to adjust subsequent forecasts. In the context of a Super Bowl loss (Study 1), a presidential election (Studies 2 and 3), an important purchase (Study 4), and the consumption of candies (Study 5), individuals mispredicted their affective reactions to these experiences and subsequently misremembered their predictions as more accurate than they actually had been. The findings indicate that this recall error results from people's tendency to anchor on their current affective state when trying to recall their affective forecasts. Further, those who showed larger recall errors were less likely to learn to adjust their subsequent forecasts and reminding people o...
ABSTRACT When spending discretionary money, one of the most basic trade-offs consumers must make ... more ABSTRACT When spending discretionary money, one of the most basic trade-offs consumers must make is between spending on material versus experiential purchases, a trade-off with substantial consequences for well-being. We propose that feelings of financial constraint lead consumers to spend their discretionary money on material goods rather than experiences. Specifically, we propose that financially constrained consumers are particularly concerned about the lasting impact of their purchase, leading them to seek out purchases that physically persist over time. Across six studies, we find that the consideration of financial constraints shifts consumers’ preferences toward more material (rather than experiential) purchases, and that this systematic shift is due to an increased concern about the longevity of the purchase. Moreover, this preference shift persists even when the material options are more frivolous than the experiential ones, indicating that the effect is not driven by an increased desire for sensible and justifiable purchases. However, the shift towards material purchases disappears when the material purchase is unusually short-lived, suggesting that longevity is the key driver in our proposed process.
Page 1. Electronic copy available at: http://ssrn.com/abstract=2043657 1 Feeling Immoral about Mo... more Page 1. Electronic copy available at: http://ssrn.com/abstract=2043657 1 Feeling Immoral about Money: How Moral Emotions Influence Spending Decisions HYUN YOUNG PARK TOM MEYVIS Last updated on April 21st, 2012 ...
ABSTRACT Managers of new-to-the-market ingredient brands often use brand alliances to help establ... more ABSTRACT Managers of new-to-the-market ingredient brands often use brand alliances to help establish the identity of an ingredient brand name. One common form of a brand alliance is joint branding in which an ingredient brand name is promoted on the host brand package. For new-to-the-market or little known ingredient brands, joint branding is an opportunity for increased exposure, increased product trial, and the formation of stronger associations to benefits that characterize the host brand. Thus, it should not be surprising that new-to-the-market ingredient brands actively recruit well-established host brand partners. However, we will show that it is not the strength of the host brand associations to the target benefit that is responsible for changes in the perception of the ingredient brand. Instead, it is the level of improvement in the joint branded product relative to the host branded product that drives changes in perceptions about the benefits delivered by the ingredient brand. Therefore, ingredient brands may often benefit from an alliance with a host brand that has weaker, rather than stronger, associations with a key product benefit.
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