A Prototype Theory of Consumer Financial Misprediction
We theorize that consumers under-predict (over-predict) their future expenses (income) in large because their predictions are based on modal outcomes, and the distribution of expenses (income) is positively (negatively) skewed with mode < mean (mode > mean). Nine studies support this account of consumer financial misprediction.
Citation:
Chuck Howard, David Hardisty, Dale Griffin, Marcel Lukas, and Abigail Sussman (2020) ,"A Prototype Theory of Consumer Financial Misprediction", 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
Chuck Howard, Texas A&M University, USA
David Hardisty, University of British Columbia, Canada
Dale Griffin, University of British Columbia, Canada
Marcel Lukas, University of St Andrews
Abigail Sussman, University of Chicago, USA
Volume
NA - Advances in Consumer Research Volume 48 | 2020
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