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

Approach and Loss Aversion: Consumer Responses to Approaching and Receding Stimuli in Advertising

Lana Mulier, Ghent University, Belgium
Iris Vermeir, Ghent University, Belgium
Hendrik Slabbinck, Ghent University, Belgium

Read More

Featured

Shared Values, Trust, and Consumers’ Deference to Experts

Samuel Johnson, University of Bath, UK
Max Rodrigues, DePaul University, USA
David Tuckett, University College London

Read More

Featured

Consumer Responses to Premium Framing: Better to Offer the Target Product as a Free Gift?

Maggie Wenjing Liu, Tsinghua University
Lu Yang, Tsinghua University
Yuhuang Zheng, Tsinghua University

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.