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Internal and Substantive Inconsistencies in Decision-Making

Hsee, Christopher K.; Zhang, Jiao - 2008

Most behavioral decision studies are about internal inconsistencies of decisions - that decisions (choices or judgments) made in one condition are different from decisions made in an apparently different but normatively equivalent condition. The present article reviews behavioral decision...

Persistent link: https://www.econbiz.de/10014026783

Distinction Bias : Misprediction and Mischoice Due to Joint Evaluation

Hsee, Christopher K.; Zhang, Jiao - 2008

This research identifies a new source of failure to make accurate affective predictions or to make experientially optimal choices. When people make predictions or choices, they are often in the joint evaluation (JE) mode; when people actually experience an event, they are often in the single...

Persistent link: https://www.econbiz.de/10014026785

The Majority Rule in Individual Decision Making

Zhang, Jiao; Hsee, Christopher K.; Xiao, Zhixing - 2008

This research investigates an understudied decision heuristic, the majority rule. By using the rule, decision makers choose the option superior on most of the available cues. Cues are broadly defined, including advisors and attributes. We propose that decision makers are more likely to use the...

Persistent link: https://www.econbiz.de/10014026786

Decision and Experience : Why Don't We Choose What Makes Us Happy?

Hsee, Christopher K.; Hastie, Reid - 2008

and happiness. Here we review selected contributions to this development from the literature on behavioral decision theory …

Persistent link: https://www.econbiz.de/10014026787

Promotion and Prevention in Consumer Decision Making : State of the Art and Theoretical Propositions

Pham, Michel Tuan; Higgins, E. Tory - 2011

The purpose of this chapter is to discuss how regulatory focus theory, a theory of motivation and self-regulation, can … theory, which proposes a fundamental distinction between two modes of self-regulation called promotion and prevention … traditional stages of the decision making process postulated by standard consumer behavior theory (i.e., problem recognition …

Persistent link: https://www.econbiz.de/10014029073

Identification and Inference in Consumer Models

Gauthier, Charles - 2022

This paper provides new identification results for a large class of (static) consumer problems that contain (production) functions in the budget constraints. I show that the mere structure of the consumer problem is sufficient to nonparametrically identify the part of the production functions...

Persistent link: https://www.econbiz.de/10014030475

Consumer Information Search Revisited : Theory and Empirical Analysis

Moorthy, Sridhar; Ratchford, Brian T.; Talukdar, Debabrata - 2011

experience. We test our theory on consumers search behavior for new automobiles, using data collected contemporaneously with the … consumers actual decision process. Our data support our theory …

Persistent link: https://www.econbiz.de/10014030753

Testing for Liquidity Constraints in Euler Equations with Complementary Data Sources

Jappelli, Tullio; Pischke, Jörn-Steffen; Souleles, … - 2011

Previous tests for liquidity constraints using consumption Euler equations have frequently split the sample on the basis of wealth arguing that low wealth consumers are more likely to be constrained. We propose alternative tests using different and more direct information on borrowing...

Persistent link: https://www.econbiz.de/10014032922

Married with Children : A Collective Labor Supply Model with Detailed Time Use and Intrahousehold Expenditure Information

Cherchye, L. - 2011

We propose a collective labor supply model with household production that generalizes an original model of Blundell, Chiappori and Meghir (2005). In our model, adults' individual preferences do not only depend on own leisure and individual private consumption of market goods. They also depend on...

Persistent link: https://www.econbiz.de/10013132874

Expenditure Cascades

Levine, Adam Seth - 2010

evaluation. We propose and test a theory that explicitly incorporates this link. Changes in one group's spending shift the frame …

Persistent link: https://www.econbiz.de/10013137204