People Prefer Forecasting Methods Similar to the Event Being Predicted
We investigate consumers’ preferences for different approaches to prediction. Across multiple studies, we find that the more similar a prediction method is to the event being predicted (e.g. in its outcome distribution, process, etc.), the more consumers like it, even if the method is not the best performing method.
Lin Fei and Berkeley Jay Dietvorst (2020) ,"People Prefer Forecasting Methods Similar to the Event Being Predicted", in NA - Advances in Consumer Research Volume 48, eds. Jennifer Argo, Tina M. Lowrey, and Hope Jensen Schau, Duluth, MN : Association for Consumer Research, Pages: 1155-1159.
Lin Fei, University of Chicago, USA
Berkeley Jay Dietvorst, University of Chicago, USA
NA - Advances in Consumer Research Volume 48 | 2020
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