Corrigendum: Preference Reversals in Willingness to Pay and Choice
In: Journal of consumer research: JCR ; an interdisciplinary journal, Band 48, Heft 2, S. 354-354
ISSN: 1537-5277
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In: Journal of consumer research: JCR ; an interdisciplinary journal, Band 48, Heft 2, S. 354-354
ISSN: 1537-5277
SSRN
Working paper
In: Journal of risk and uncertainty, Band 6, Heft 1, S. 5-18
ISSN: 1573-0476
In: Journal of consumer behaviour, Band 11, Heft 1, S. 81-88
ISSN: 1479-1838
ABSTRACTThis article explores the impact of consumers' regulatory goals on their relative focus on hedonic (versus utilitarian) benefits of products. Drawing from extant literature, we argue that promotion‐focused consumers will exhibit more favorable attitude towards a product when its hedonic benefits are highlighted in comparison to its utilitarian benefits. Prevention‐focused consumers on the other hand will exhibit more favorable attitude towards a product when its utilitarian benefits are highlighted in comparison to its hedonic benefits. We further argue that this effect is moderated by contextual factors, such as evaluation mode. In addition, we argue that the posited difference only holds when the hedonic and utilitarian products are evaluated individually. When the two products are evaluated jointly, both promotion and prevention‐focused individuals will exhibit more favorable attitude towards the hedonic product. Two studies were conducted to test the hypotheses and findings supported our predictions. Copyright © 2011 John Wiley & Sons, Ltd.
In: History of political economy, Band 29, Heft suppl_1, S. 253-272
ISSN: 1527-1919
In: The Economic Journal, Band 99, Heft 395, S. 140
In: The Economic Journal, Band 104, Heft 427, S. 1370
In: Journal of risk and uncertainty, Band 46, Heft 2, S. 175-189
ISSN: 1573-0476
In: American economic review, Band 92, Heft 5, S. 1636-1643
ISSN: 1944-7981
In: Joensuun yliopiston yhteiskuntatieteellisiä julkaisuja n:o 27
In: University of Joensuu publications in social sciences
In: Synthese: an international journal for epistemology, methodology and philosophy of science, Band 191, Heft 18, S. 4353-4376
ISSN: 1573-0964
SSRN
In: NBER Working Paper No. w16036
SSRN
1.The construction of preference : an overview /Sarah Lichtenstein and Paul Slovic --2.Relative importance of probabilities and payoffs in risk taking /Paul Slovic and Sarah Lichtenstein --3.Reversals of preference between bids and choices in gambling decisions /Sarah Lichtenstein and Paul Slovic --4.Response-induced reversals of preference in gambling : an extended replication in Las Vegas /Sarah Lichtenstein and Paul Slovic --5.Economic theory of choice and the preference reversal phenomenon /David M. Grether and Charles R. Plott --6.Contingent weighting in judgment and choice /Amos Tversky, Samuel Sattath and Paul Slovic --7.Cognitive processes in preference reversals /David A. Schkade and Eric J. Johnson.
SSRN
Working paper