This research examines why consumers desire unusual and novel consumption experiences and voluntarily choose leisure activities, vacations, and celebrations that are predicted to be less pleasurable. For example, consumers sometimes choose to stay at freezing ice hotels and to eat at restaurants...

Marketers often extend product lines by offering limited-capability models that are created by removing or degrading features in existing models. This production method, called versioning, has been lauded because of its ability to increase both consumer and firm welfare. According to rational...

For most forms of conscious consumer choice, product attributes serve as the means that consumers use to accomplish their goals. Because there is competition between products in the marketplace, consumption decisions typically present conflict between means to achieve a goal. In this article, we...

People often need to trade off between the probability and magnitude of the rewards that they could earn for investing effort. The present paper proposes that the conjunction of two simple assumptions (relating effort-induced reward expectations to prospect theory's value function) provides a...

This article proposes that supposedly farsighted (hyperopic) choices of virtue over vice evoke increasing regret over time. We demonstrate that greater temporal separation between a choice and its assessment enhances the regret (or anticipated regret) of virtuous decisions (e.g., choosing work...