In one laboratory study and one field study conducted with a large, representative sample of respondents, we show that seemingly innocuous questions that precede a conjoint task, such as demographic and usage-related screening questions can alter the price sensitivities recovered fromthe main...

Several studies show that information used to screen alternatives becomes less important relative to information acquired latter in the search process simply because it was used to screen. Experiment 1 shows that the tendency to deemphasize prescreening information leads to systematically...

People view uncertain events as knowable in principle (epistemic uncertainty), as fundamentally random (aleatory uncertainty), or as some mixture of the two. We show that people make more extreme probability judgments (i.e., closer to 0 or 1) for events they view as entailing more epistemic...

Conspicuous consumption has often been decried as immoral by many philosophers and scholars, yet it is ubiquitous and widely embraced. This research sheds light on the apparent paradox by proposing that the perceived morality of conspicuous consumption is malleable, contingent upon how different...

Substitution decisions have been examined from a variety of perspectives. The economics literature measures cross-price elasticity, operations research models optimal assortments, the psychology literature studies goals in conflict, and marketing research has examined substitution-in-use, brand...

In this chapter we review two distinct streams of literature, the numerical cognition literature and the judgment and decision making literature, to understand the psychological mechanisms that underlie consumers' responses to prices. The judgment and decision making literature identifies three...