Most real decisions, unlike those of economics texts, have a status quo alternative—that is, doing nothing or maintaining one’s current or previous decision. A series of decision-making experiments shows that individuals disproportionately stick with the status quo. Data on the selections of health plans and retirement programs by faculty members reveal that the status quo …
Tag Archives: Decision Making
DeSteno, D., Li, Y., Dickens, L., &Lerner, J. S. (2014). Gratitude: A tool for reducing economic impatience. Psychological Science, 25(6), 1262-1267.
The human mind tends to excessively discount the value of delayed rewards relative to immediate ones, and it is thought that “hot” affective processes drive desires for short-term gratification. Supporting this view, recent findings demonstrate that sadness exacerbates financial impatience even when the sadness is unrelated to the economic decision at hand. Such findings might …
Nowlis, S. M., Mandel, N., &McCabe, D. B. (2004). The effect of a delay between choice and consumption on consumption enjoyment. Journal of Consumer Research, 31(3), 502-510.
A consumer choosing a product must often wait before consuming it. In this article, we consider the consequences of waiting on consumption enjoyment. We propose that the effect of a delay on consumption enjoyment depends on both the negative utility of the wait itself and on the positive utility of anticipating a pleasant consumption experience. …
Amir, O., &Ariely, D. (2007). Decisions by rules: The case of unwillingness to pay for beneficial delays. Journal of Marketing Research, 44(1), 142-152.
Since the emergence of neoclassical economics, individual decision making has been viewed largely from an outcome-maximizing perspective. Building on previous work, the authors suggest that when people make payment decisions, they consider not only their preferences for different alternatives but also guiding principles and behavioral rules. The authors describe and test two characteristics pertaining to …
Ariely, D., &Loewenstein, G. (2006). The heat of the moment: The effect of sexual arousal on sexual decision making. Journal of Behavioral Decision Making, 19(2), 87-98.
Despite the social importance of decisions taken in the “heat of the moment,” very little research has examined the effect of sexual arousal on judgment and decision making. Here we examine the effect of sexual arousal, induced by self‐stimulation, on judgments and hypothetical decisions made by male college students. Students were assigned to be in …
Epley, N., Mak, D., &Idson, L. C. (2006). Bonus of rebate?: The impact of income framing on spending and saving. Journal of Behavioral Decision Making, 19(3), 213-227.
All income increases a person’s absolute wealth, but consumption decisions may be based more heavily on perceived changes in wealth. Change is computed by comparing a current state with a former state, and we predicted that people would be more likely to spend income framed as a gain from a current wealth state than income …
Goldstein, D. G., Hershfield, H. E., &Benartzi, S. (2016). The illusion of wealth and its reversal. Journal of Marketing Research, 53(5), 804-813.
Research on choice architecture is shaping policy around the world, touching on areas ranging from retirement economics to environmental issues. Recently, researchers and policy makers have begun paying more attention not just to choice architecture but also to information architecture, or the format in which information is presented to people. In this article, the authors …
정민화, 최종안, & 최인철. (2017). 행복한 사람들의 선택: 좋아하는 것과 잘하는 것. 한국심리학회 학술대회 자료집, 258-258.
초록 없음 정민화, 최종안, & 최인철. (2017). 행복한 사람들의 선택: 좋아하는 것과 잘하는 것. 한국심리학회 학술대회 자료집, 258-258.