Outcome Neglect: How Guessing Heuristics Supersede Expected Value
When people guess an amount they could win (in lab and field studies), they neglect the fact that higher guesses represent the same probability of winning but a higher conditional payoff. This finding suggests that utility maximization is only one of many potential heuristics, easily superseded by other salient strategies.
Oleg Urminsky and Adelle Yang (2012) ,"Outcome Neglect: How Guessing Heuristics Supersede Expected Value", in NA - Advances in Consumer Research Volume 40, eds. Zeynep Gürhan-Canli, Cele Otnes, and Rui (Juliet) Zhu, Duluth, MN : Association for Consumer Research, Pages: 284-287.
Oleg Urminsky, University of Chicago, USA
Adelle Yang, University of Chicago, USA
NA - Advances in Consumer Research Volume 40 | 2012
Contested and Confused: The Influence of Social Others in Disrupting Body Projects
Aphrodite Vlahos, University of Melbourne, Australia
Marcus Phipps, University of Melbourne, Australia
E10. Sustainable Initiatives: Cultural Identity, Regulatory Focus, and Construal Perspective
Ekaterina Salnikova, Aarhus University
Yuliya Strizhakova, Rutgers University, USA
Klaus G Grunert, Aarhus University
Understanding Trust Formation in Peer-to-peer Social Commerce
Lena Cavusoglu, Portland State University
Deniz Atik, University of Texas Rio Grande Valley, USA