[태그:] Behavioral Decision Theory

The Background Contrast Effect occurs when the trade-off value between attributes in a first choice influences subsequent choice. We explore the role of decision-making thoughtfulness in seeking to understand when and why this effect occurs. Experiments 1 and 2 provide evidence that the Background Contrast Effect emerges more under thoughtful than under nonthoughtful conditions. Experiment 3 reveals that thought influences perceptions of applicability of the ...

This article examines systematic differences in people's spending behavior when using foreign currencies. Rather than overspend or underspend in general, we show that individuals' valuation of a product in an unfamiliar foreign currency is biased toward its nominal value—its face value—with inadequate adjustment for the exchange rate. This leads to underspending when the face value of a foreign currency is a multiple of an equivalent ...

A consumer choosing a product must often wait before consuming it. In this article, we consider the consequences of waiting on consumption enjoyment. We propose that the effect of a delay on consumption enjoyment depends on both the negative utility of the wait itself and on the positive utility of anticipating a pleasant consumption experience. These factors exert different degrees of influence, depending on characteristics ...

Past expenses have been shown to influence future spending behavior by depleting available budgets. However, a prerequisite for this relationship is the accurate recall of past payments and the experiencing of the full aversive impact associated with them. This article shows that the use of different payment mechanisms influences both these factors and hence moderates the effects of past payments on future spending. Specifically, past ...

This research examines how a focus on time versus money can lead to two distinct mind-sets that affect consumers' willingness to donate to charitable causes. The results of three experiments, conducted both in the lab and in the field, reveal that asking individuals to think about “how much time they would like to donate” (vs. “how much money they would like to donate”) to a ...

The research presented in this article provides evidence that add-on features sold to enhance a product can be more than just discretionary benefits. We argue that consumers draw inferences from the mere availability of add-ons, which in turn lead to significant changes in the perceived utility of the base good itself. Specifically, we propose that the improvements supplied by add-ons can be classified as either ...

We propose that buying- and selling-price estimates reflect a focus on what the consumer forgoes in the potential exchange and that this notion offers insight into the well-known difference between those two types of value assessment. Buyers and sellers differ not simply in their valuation of the same item but also in how they assess the value. Buyers tend to focus on their sentiment toward ...

 To properly consider the opportunity costs of a purchase, consumers must actively generate the alternatives that it would displace. The current research suggests that consumers often fail to do so. Even under conditions promoting cognitive effort, various cues to consider opportunity costs reduce purchase rates and increase the choice share of more affordable options. Sensitivity to such cues varies with chronic dispositional differences in spending ...