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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