This article examines how dynamic changes in information cost structure and time preferences affect consumers' search and switching behavior over time and lead to lock-in. The information cost structure is conceptualized as a tradeoff of initial setup costs and ongoing usage costs. Lock-in is...

Why do events that occurred around the same time feel more or less distant? Prior research suggests that characteristics of the event itself can affect the estimated date of its occurrence. Our work differs in that we focus on how characteristics of the time interval following the event affect...

When it comes to trading time for money (or vice versa), people tend to be impatient and myopic. Often dramatically so. For illustration, half of people would rather collect $15 now than $30 in three months. This willingness to forego 50% of the reward to skip a 3-month wait corresponds to an...

Global Recession to Global Recovery: It is well known fact that all good things, as also bad things, come to an end and business cycles pass through good and bad economic times. Economically 2010 was a year of transition from economic recession to recovery. Economies were improving in some...

Hyperbolic discounting (H) is currently the dominant behavioral model of intertemporal choice, since it better explains how people behave than the normatively correct exponential discounting model (E). This paper promotes an arithmetic discounting model (A) which challenges H. First, A is more...

Drawing on the literature on curiosity, we develop a model to study the impact of consumer curiosity on a firm's information disclosure of product content and price in an entertainment market, where consumers are curious about new products (e.g., movies) and are uncertain about their quality. We...

Results from four experiments suggest that currencies such as loyalty-program points are overvalued. Different allocations of the same quantity of points across the same number of purchases (e.g., 100 points for each first, 200 for each second, 300 for each third purchase vs. 200 for each first,...

The paper presents an unusually comprehensive empirical comparison of delay discounting/intertemporal choice models. A three-component model is developed, with power laws modeling subjective time, subjective money, and magnitude sensitivity. It nests several other models in the literature, among...

This paper has four objectives. First, we describe and evaluate three models of delay discounting (time preference), showing how they relate to each other and to already established concepts in accounting/finance and elsewhere. The models are: exponential (E), hyperbolic (H), and arithmetic (A),...

Prior research, primarily based on lab experiments, suggests that females might be more averse to competition than males and could be more inclined towards collaboration, instead. Were these findings to generalize to adults across the workforce, there could be profound implications for...