Should Advisors Provide Confidence Intervals Around Their Estimates?
We find that consumers may be more persuaded by advisors who provide confidence intervals around their estimates. In seven incentivized studies (N = 9,471), participants were either directionally or significantly more likely to follow advice when it was accompanied by a confidence interval than when it was not.
Citation:
Celia Gaertig and Joseph P. Simmons (2020) ,"Should Advisors Provide Confidence Intervals Around Their Estimates?", 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: 1091-1095.
Authors
Celia Gaertig, University of Chicago, USA
Joseph P. Simmons, University of Pennsylvania, USA
Volume
NA - Advances in Consumer Research Volume 48 | 2020
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