A Dual-Process Model of Economic Rationality: the Symmetric Effect of Hot and Cold Evaluations on Economic Decision Making

Angelos Stamos, Katholieke University Leuven, Belgium
Sabrina Bruyneel, Katholieke University Leuven, Belgium
Bram De Rock, Katholieke University Leuven, Belgium
Laurens Cherchye , Katholieke University Leuven, Belgium
Siegfried Dewitte, Katholieke University Leuven, Belgium
We explore budget waste coming from inconsistent choices triggered by "hot" and "cold" evaluations, as well as, the overall budget waste across both types of evaluation. We find that budget waste coming from "hot and "cold evaluations is comparable, but the overall waste of budget across the two types of evaluation is significantly higher.
[ to cite ]:
Angelos Stamos, Sabrina Bruyneel, Bram De Rock, Laurens Cherchye , and Siegfried Dewitte (2015) ,"A Dual-Process Model of Economic Rationality: the Symmetric Effect of Hot and Cold Evaluations on Economic Decision Making", in NA - Advances in Consumer Research Volume 43, eds. Kristin Diehl and Carolyn Yoon, Duluth, MN : Association for Consumer Research, Pages: 696-697.