Abstract Thinking is accompanied by metacognitive experiences of ease or difficulty. People draw on these experiences as a source of information that can complement or challenge the implications of declarative information. We conceptualize the operation of metacognitive experiences within the framework of feelings‐as‐information theory and review their implications for judgments relevant to consumer behavior, including popularity, trust, risk, truth, and beauty.
Metacognitive experiences as information: Processing fluency in consumer judgment and decision making
Abstract Thinking is accompanied by metacognitive experiences of ease or difficulty. People draw on these experiences as a source of information that can complement or challenge the implications of declarative information. We conceptualize the operation of metacognitive experiences within the framework of feelings‐as‐information theory and review their implications for judgments relevant to consumer behavior, including popularity, trust, risk, truth, and beauty.
Mindful Judgment and Decision Making
A full range of psychological processes has been put into play to explain judgment and choice phenomena. Complementing work on attention, information integration, and learning, decision research over the past 10 years has also examined the effects of goals, mental representation, and memory processes. In addition to deliberative processes, automatic processes have gotten closer attention, and the emotions revolution has put affective processes on a footing equal to cognitive ones. Psychological process models provide natural predictions about individual differences and lifespan changes and integrate across judgment and decision making (JDM) phenomena. “Mindful” JDM research leverages our knowledge about psychological processes into causal explanations for important judgment and choice regularities, emphasizing the adaptive use of an abundance of processing alternatives. Such explanations supplement and support existing mathematical descriptions of phenomena such as loss aversion or hyperbolic discounting. Unlike such descriptions, they also provide entry points for interventions designed to help people overcome judgments or choices considered undesirable.
The Realization Effect: Risk-Taking after Realized versus Paper Losses
Understanding how prior outcomes affect risk attitudes is critical for the study of choice under uncertainty. A large literature documents the significant influence of prior losses on risk attitudes. The findings appear contradictory: some studies find greater risk-taking after a loss, whereas others show the opposite—that people take on less risk. I reconcile these seemingly inconsistent findings by distinguishing between realized versus paper losses. Using new and existing data, I replicate prior findings and demonstrate that following a realized loss, individuals avoid risk; if the same loss is not realized, a paper loss, individuals take on greater risk.
Measuring the Hedonic and Utilitarian Dimensions of Consumer Attitude
This article reports the development and validation of a parsimonious, generalizable scale that measures the hedonic and utilitarian dimensions of consumer attitudes toward product categories and different brands within categories. The hedonic/utilitarian (HED/UT) scale includes ten semantic differential response items, five of which refer to the hedonic dimension and five of which refer to the utilitarian dimension of consumer attitudes. The authors conducted six studies to establish the unidimensionality, reliability, and validity of the two HED/UT subscales. In reaching the final scale, the authors also develop and implement a unique process of paring down a psychometrically sound but otherwise too large set of items. Nomological validity is established by replacing a typical, one-dimensional attitude toward the brand measure with the hedonic and utilitarian dimensions in a central route processing model. Results suggest that the hedonic and utilitarian constructs are two distinct dimensions of brand attitude and are reliably and validly measured by the HED/UT scale.
The pain of payment: A review and research agenda
Abstract Pain of payment is the negative psychological affect consumers experience when they become cognizant that they have lost a certain amount of their financial resources (immediate pain) or when they become aware that they will or may lose a certain amount of their financial resources in the future (anticipated pain). Pain of payment plays a significant role in consumer decision making and has attracted substantial scholarly interest in recent years. In this article, we conduct a systematic literature review of the existing work on pain of payment. We advance theory in the field by proposing a new organizing framework that summarizes the antecedents, moderators, and consequences of pain of payment. Furthermore, we provide a formal definition of pain of payment that encompasses all facets of this construct. Subsequently, we identify knowledge gaps and outline research questions that could be explored to improve our understanding of this construct and advance consumer psychology.
Practicing Information Sensibility: How Gen Z Engages with Online Information
Assessing the trustworthiness of information online is complicated. Literacy-based paradigms are both widely used to help and widely critiqued. We conducted a study with 35 Gen Zers from across the U.S. to understand how they assess information online. We found that they tended to encounter -- rather than search for -- information, and that those encounters were shaped more by social motivations than by truth-seeking queries. For them, information processing is fundamentally a social practice. Gen Zers interpreted online information together, as aspirational members of social groups. Our participants sought information sensibility: a socially-informed awareness of the value of information encountered online. We outline key challenges they faced and practices they used to make sense of information. Our findings suggest that like their information sensibility practices, solutions and strategies to address misinformation should be embedded in social contexts online.
Do Payment Mechanisms Change the Way Consumers Perceive Products?
Abstract. Do payment mechanisms change the way consumers perceive products? We argue that consumers for whom credit cards (cash) have been primed focus mor
A sampling model of social judgment.
Choosing Less‐Preferred Experiences For the Sake of Variety
Abstract. Data from several experiments show that, contrary to traditional models of variety seeking, individuals choose to switch to less-preferred option
Cognitive Load and Social Media Advertising
Social media engagement requires cognitive resources, which subsequently impact the advertisements consumers see while browsing. For the most part, however, advertising practitioners and scholars s...
Beware of samples! A cognitive-ecological sampling approach to judgment biases.
Reconciling truthfulness and relevance as epistemic and decision-theoretic utility.
Cognitive Offloading
If you have ever tilted your head to perceive a rotated image, or programmed a smartphone to remind you of an upcoming appointment, you have engaged in cognitive offloading: the use of physical action to alter the information processing requirements of a task so as to reduce cognitive demand. Despite the ubiquity of this type of behavior, it has only recently become the target of systematic investigation in and of itself. We review research from several domains that focuses on two main questions: (i) what mechanisms trigger cognitive offloading, and (ii) what are the cognitive consequences of this behavior? We offer a novel metacognitive framework that integrates results from diverse domains and suggests avenues for future research.
Exploring Psychology in the Field: Steps and Examples From the Used‐Car Market
Abstract The growing availability of large datasets in a variety of domains presents an opportunity for researchers to use field data to better understand psychological concepts. I discuss, from an empirical economics point of view, steps for how to study cognition in large datasets. I use two recent papers that explore psychology in the used‐car market as motivating examples. These examples help illustrate the potential importance of big data as a way to explore human psychology and cognition. , The growing availability of large datasets in a variety of domains presents an opportunity for researchers to use field data to better understand psychological concepts. I discuss from an empirical economics point of view, steps for how to study cognition in large datasets and illustrate these steps with recent empirical papers.
Realization experiences: a convergent account of insight and mystical experiences
We argue that the powerful transformative effects of mystical-type experiences can be understood using the same machinery that underlies insight problem solving, and that both mystical experiences ...
