There Is More to Planned Purchases Than Knowing What You Want: Dynamic Planning and Learning in a Repeated Multi-Store Price Search Task

Yanliu Huang, Chinese University of Hong Kong, Hong Kong, China
Wes Hutchinson, The Wharton School, University of Pennsylvania, USA
This research investigates consumer planning in a repeated multi-store price search task. Planning is defined as developing procedures for the accomplishment of an objective before the commencement of the task. We showed in two simulated shopping experiments that consumers often fail to plan optimally and do not appreciate the value of early learning. Fortunately, given the metacognitive nature of planning, consumers are able to transfer their planning to a different context successfully. Finally, having consumers explicitly verbalize their plans at a “deep” level helps them perform better by making them focus on strategy-oriented metacognitive processes.
[ to cite ]:
Yanliu Huang and Wes Hutchinson (2010) ,"There Is More to Planned Purchases Than Knowing What You Want: Dynamic Planning and Learning in a Repeated Multi-Store Price Search Task", in NA - Advances in Consumer Research Volume 37, eds. Margaret C. Campbell, Jeff Inman, and Rik Pieters, Duluth, MN : Association for Consumer Research, Pages: 191-194 .