Best-Laid Plans…: Understanding the Processes Underlying the Planning Fallacy

The planning fallacy refers to the systematic tendency to hold a confident belief that one’s own task will proceed as planned. Research has provided evidence of the tendency to underestimate the completion time for future tasks. The purpose of this research is to extend the previous research to a consumer behavior context and examine possible underlying processes. Our findings suggest that people underestimate their shopping completion times but overestimate their shopping duration times. Our findings also indicate that people with a high interpersonal locus of control tend to underestimate the shopping times more so than those with a low interpersonal locus of control.



Citation:

Jaehoon Lee, L. J. Shrum, and Jongwon Park (2009) ,"Best-Laid Plans…: Understanding the Processes Underlying the Planning Fallacy", in NA - Advances in Consumer Research Volume 36, eds. Ann L. McGill and Sharon Shavitt, Duluth, MN : Association for Consumer Research, Pages: 1034-1035.

Authors

Jaehoon Lee, University of Texas at San Antonio, USA
L. J. Shrum, University of Texas at San Antonio, USA
Jongwon Park, Korea University, Republic of Korea



Volume

NA - Advances in Consumer Research Volume 36 | 2009



Share Proceeding

Featured papers

See More

Featured

Mining Consumer Minds: How Airbnb Hosts’ Motivations Affect Their Retention and Pricing Decision

Jaeyeon Chung, Columbia University, USA
Gita Venkataramani Johar, Columbia University, USA
Yanyan Li, Columbia University, USA
Oded Netzer, Columbia University, USA
Matthew Pearson, Former User Experience Researcher at Airbnb

Read More

Featured

Stigma at Every Turn: Exploring Bi+ Consumer Experiences

Abigail Jean Nappier Cherup, University of Nebraska-Lincoln
Andre F. Maciel, University of Nebraska-Lincoln

Read More

Featured

Social Class and Prosocial Behaviors

Yan Vieites, Brazilian School of Public and Business Administration, Brazil
Eduardo B. Andrade, FGV / EBAPE
Rafael Burstein Goldszmidt, Brazilian School of Public and Business Administration, Brazil

Read More

Engage with Us

Becoming an Association for Consumer Research member is simple. Membership in ACR is relatively inexpensive, but brings significant benefits to its members.