Research has shown that conservatives tend to oppose the distribution of welfare to other people. However, are conservatives less likely than liberals to accept welfare for themselves? We find that the difference in liberals' and conservatives' welfare enrollment depends on whether the welfare...

Quantity can be described using perceptual units (e.g., bags, pieces) or standardized units (e.g., ounces, grams). Merely making perceptual units more salient in quantity description can increase perceived economic value. Even when the objective information and numerosity are kept constant,...

Economic price theory assumes that consumers’ responses to prices can be characterized by stable demand curves and price elasticities. The author posits that this assumption lacks descriptive validity because the demand curve is rather unstable; subtle changes in framing and contextual cues can...

This paper reports subjective ratings of unhealthiness and impulsiveness of 100 food categories that are purchased by a typical American consumer. These ratings are used to identify food items that are considered as vice and virtue products

When do internal reference prices differ from articulated price expectations? The authors propose that the internal reference price depends not only on the magnitude of the expected price, but also on the confidence associated with this expectation. Four experiments delineate the effects of...

At each stage in customers’ journeys, they encounter different types of numeric information that they process using different judgment strategies.Relevant numbers might include budgets, price, product attributes, product counts, product ratings, numbers in brand names, health and...