If It’S Similar, It’S More Likely… But Can It Be Worth It? Perceived Similarity, Probability and Outcome Value

Hui-Yun Chen, Virginia Tech, USA
Elise Chandon Ince, Virginia Tech, USA
Assessment of precise probabilities is difficult, and research has pointed to various cues people use to form probability judgments. In this research we investigate the effect of enhancing perceived proximity on probability judgments. Furthermore, we propose that inflated probability judgments could in turn abate perceived impact level of the event.
[ to cite ]:
Hui-Yun Chen and Elise Chandon Ince (2011) ,"If It’S Similar, It’S More Likely… But Can It Be Worth It? Perceived Similarity, Probability and Outcome Value", in NA - Advances in Consumer Research Volume 38, eds. Darren W. Dahl, Gita V. Johar, and Stijn M.J. van Osselaer, Duluth, MN : Association for Consumer Research.