Our research examines the role of prior knowledge in learning about really new products that make existing product knowledge obsolete. Those with higher prior knowledge incorrectly generalize from their knowledge of existing products in the same product market and assume that they already know...

Consumers often use luxury products to signal their aspirational selves. In social media, consumers can publicly affiliate with such products and brands virtually without having to physically own them. This research demonstrates how social media can enable consumers to engage with aspirational...