Developmental patterns of change in the influence of safe and risky peer choices on risky decision‐making

Adolescents take more risks when peers monitor their behavior. However, it is largely unknown how different types of peer influence affect adolescent decision‐making. In this study, we investigate how information about previous choices of peers differentially influences decision‐making in adolescence and young adulthood. Participants (N = 99, age range 12–22) completed an economic choice task in which choice options were systematically varied on levels of risk and ambiguity. On each trial, participants selected between a safer choice (low variability in outcome) and a riskier choice (high variability in outcome). Participants made choices in three conditions: a solo condition in which they made choices with no additional information, a social condition in which they saw choices of supposed peers, and a computer condition in which they saw choices of a computer. Results showed that participants’ choices conform to the choices made by the peers, but not a computer. Furthermore, when peers chose the safe option, late adolescents were especially likely to make a safe choice. Conversely, when the peer made a risky choice, late adolescents were least likely to follow choices made by the peer. We did not find evidence for differential influence of social information on decisions depending on their level of risk and ambiguity. These results show that information about previous decisions of peers are a powerful modifier for behavior and that the effect of peers on adolescents’ decisions is less ubiquitous and more specific than previously assumed.     

The Impact of “Display‐Set” Options on Decision‐Making

The way a choice set is constructed can have a significant influence on how individuals perceive and evaluate their options, and make decisions between them. Here, I examine whether a “display set” of visible but unavailable options can exert these same types of influences on whether or not to choose a single (target) item. Across a series of experiments, purchase intent is increased when the display set and target are drawn from the same category, but decreased when the display and target items are mismatched. This effect is shown to depend on perceived similarity, such that increasing display‐target similarity increases purchase intent towards the target. Furthermore, contrary to the predictions made by previous neural and behavioral research on choice sets, the relative value and/or number of display‐only items have no significant impact on these decisions. These findings reveal a novel choice behavior in commonly encountered settings such as online marketplaces. Copyright © 2016 John Wiley & Sons, Ltd.     

Cyber peers’ influence for adolescent consumer in decision‐making styles and online purchasing behavior

Nowadays, there is a boom in online purchasing, especially by adolescents. In fact, scholars and marketers alike have long noticed the emergence of adolescent consumers and their consumption behaviors. This research aims at exploring the effect of adolescent decision‐making styles on online purchasing behavior, with peer influence as a moderating variable. An online questionnaire survey was conducted on 2,419 adolescents and further verified by regression analysis and analysis of covariance. Adolescents with planned purchase behaviors can be considered as rational consumers, in that they do not care about fashion, or recreational, hedonistic shopping consciousness, but rather focus on brand, price value, and high quality. Indeed, adolescent purchase decision making can be strengthened by peer influence.     

产品空间位置、价格音节长度对消费者价格感知的影响

本研究采用实验法考察了视听单通道及双通道下产品空间位置与价格音节长度对消费者价格感知的潜在影响。结果发现,呈现在空间右侧以及以较长音节播放的产品使得被试的价格感知升高;短音节条件下,个体对空间右侧产品的价格感知显著高于空间左侧,长音节条件下两侧则无显著差异;相对于单通道刺激呈现,视听通道呈现信息一致时出现信息冗余效应,个体判断的速度更快,验证了共激活模型假设,视听不一致条件下的速度降低则支持了预测编码模型。     

产品空间位置、价格音节长度对消费者价格感知的影响

本研究采用实验法考察了视听单通道及双通道下产品空间位置与价格音节长度对消费者价格感知的潜在影响。结果发现,呈现在空间右侧以及以较长音节播放的产品使得被试的价格感知升高;短音节条件下,个体对空间右侧产品的价格感知显著高于空间左侧,长音节条件下两侧则无显著差异;相对于单通道刺激呈现,视听通道呈现信息一致时出现信息冗余效应,个体判断的速度更快,验证了共激活模型假设,视听不一致条件下的速度降低则支持了预测编码模型。     

Making judgments in a two‐sequence cue environment: The effects of differential cue strengths,order sequence,and distraction

Consumers frequently evaluate multiple sequential cues of varying strengths in order to draw inferences about a product's quality. The results of three experiments show that when consumers are not distracted, they judge a product's quality more favorably following a strong–weak cue sequence relative to a weak–strong sequence (a primacy effect). However once consumers are distracted from the evaluation task, the primacy effect reverses to a recency effect, whereby consumers judge a product's quality more favorably following a weak–strong cue sequence. Process tests suggest that distraction crowds consumers' short-term working memory and inhibits the spontaneous rehearsal and the subsequent recall of the cue presented first in the information sequence.     

To whom and when to give: Effects of intimacy and obligation on expressive motives,gift choice,and information search in gift giving

When consumers purchase gifts for others, their behaviors are different from those when they buy something for themselves. The present study aims to understand the entire gift purchase process including perception of the recipient and occasion, formation of motives, gift type choices, and information search. For this purpose, an expressive motive (motive to express the relationship or givers' self through a gift) was introduced and hypotheses were developed on how perceived intimacy and obligation influence expressive motives and how these motives affect consumers' choice of gift types (hedonic vs. utilitarian) and information search modes (online vs. offline). A memory‐based survey involving a student sample (n = 355) was conducted, and three major findings were revealed. First, more intimacy and less obligation increased expressive motives. Second, expressive motives influenced the giver's choice of a gift type. More specifically, givers with high expressive motives tended to choose a gift with a high level of hedonic quality and a low level of utilitarian quality. Finally, gift types that givers intended to purchase influenced information search. Givers searched for information online more when they purchased gifts with high utilitarian quality whereas they searched for offline information more when they purchased gifts with high hedonic quality. Results have practical implications for manufacturers and retailers whose businesses involve gifts.     

Effects of Extreme‐Priced Products on Consumer Reservation Prices

We show that an extremely high‐priced product featured among more moderately priced products within a catalog can increase the reservation price for a moderately priced target product as well as the category as a whole. We investigate how this increase is influenced by the degree of relatedness between the extreme‐priced product and the target as well as the situational and temporal proximity (contiguity) in their presentation. Consistent with our conceptualization, we find that the presence of an extreme cue leads to greater changes in target reservation price when the extreme‐priced referent and target are more related and are contiguously presented. Furthermore, the impact of an extreme‐priced product's relatedness on reservation price appears to be greater when the contiguity between the extreme‐priced product and the target product is high versus when it is low.     

Irrelevant Information and Mediated Intertemporal Choice

Results from 4 experiments suggest that currencies such as loyalty‐program points are overvalued. Different allocations of the same quantity of points across the same number of purchases (e.g., 100 points for each first, 200 for each second, 300 for each third purchase vs. 200 for each first, second, and third purchase) yielded irrelevant trends and should have led participants to ignore loyalty points as a basis for choice. However, choices were influenced by points even when consumers were provided with other truly discriminating information (e.g., price) and the irrelevance of the loyalty points was readily discernable. This implies that irrelevant information can influence choice when other, easily justifiable bases for decisions are available and, therefore, that irrelevant information can function as more than a tie‐breaker. Other implications for research on irrelevant attributes, medium effects, intertemporal choice, and loyalty programs are discussed.     

True Context‐dependent Preferences? The Causes of Market‐dependent Valuations

A central assumption of neoclassical economics is that reservation prices for familiar products express people's true preferences for these products; that is, they represent the total benefit that a good confers to the consumers and are, thus, independent of actual prices in the market. Nevertheless, a vast amount of research has shown that valuations can be sensitive to other salient prices, particularly when individuals are explicitly anchored on them. In this paper, the authors extend previous research on single‐price anchoring and study the sensitivity of valuations to the distribution of prices found for a product in the market. In addition, they examine its possible causes. They find that market‐dependent valuations cannot be fully explained by rational inferences consumers draw about a product's value and are unlikely to be fully explained by true market‐dependent preferences. Rather, the market dependence of valuations likely reflects consumers' focus on something other than the total benefit that the product confers to them. Furthermore, this paper shows that market‐dependent valuations persist when – as in many real‐life settings – individuals make repeated purchase decisions over time and infer the distribution of the product's prices from their market experience. Finally, the authors consider the implications of their findings for marketers and consumers. Copyright © 2013 John Wiley & Sons, Ltd.     

When Consumers’ Self‐Image Motives Fail

Self‐image motives and “sacrosanct beliefs” are powerful motivators of consumer judgment and decision making. The sacrosanct belief that one is rational, for instance, can cause consumers to justify seemingly unwise economic decisions. This article outlines some of the occasions when self‐image motives appear to fail. For instance, although consumers occasionally pat themselves on the back for making questionable purchase decisions, at other times they find fault in perfectly reasonable ones. These and other recent findings provide an exception to the more general rule outlined by Dunning (2007).     

Chinese are more loss averse than British

This research investigates how culture might influence loss aversion. Chinese were expected to be more loss averse than British because of cultural differences in regulatory focus. Study 1 reveals that compared with British participants, Chinese participants were less likely to give up gifts they had received in exchange for new gifts. In Study 2, Chinese and British participants imagined buying a computer which either had a high specification and a high price tag (high reference), or a basic specification and a low price tag (low reference). Participants were informed that the (reference) computer was unavailable, and they had to choose between two available computers, which were both cheaper and less powerful than the high reference computer, and more expensive and more powerful than the low reference computer. The results reveal that the difference in price tag between the two available computers had a bigger impact on Chinese buying decisions than on British buying decisions when it was viewed as a loss. Furthermore, both promotion focus and prevention focus mediated the influence of culture on buying decisions in the low reference condition. No cross‐cultural difference was found in the high reference condition.     

认知闭合需要、框架效应与决策偏好

在带有模糊性的决策情境中,决策者个人的认知特征会对其判断决策产生重要影响。通过实验的方法,考察了认知闭合需要和特征框架效应对个体决策偏好的影响。93名工商管理硕士（MBA）参与了实验,研究的结果支持了本研究的3个假设,即认知闭合需要与特征框架效应不仅对被试的决策偏好存在显著的影响,而且二者还存在显著的交互作用。具体来说,研究发现,在模糊情境中：高认知闭合需要的被试偏好于立刻做出决策,而低认知闭合需要的被试偏好于暂缓做出决策;接收到正向框架信息的被试偏好于立刻做出决策,而接收到负向框架信息的被试偏好于暂缓做出决策;认知闭合需要与特征框架对被试的决策偏好还存在显著的交互作用。研究结论为根据个体认知闭合需要的水平来选拔决策者、利用框架效应来影响个体的信息加工方式进而提高决策质量提供了理论依据     

The Secrecy Heuristic: Inferring Quality from Secrecy in Foreign Policy Contexts

Three experiments demonstrate that in the context of U.S. foreign policy decision making, people infer informational quality from secrecy. In Experiment 1, people weighed secret information more heavily than public information when making recommendations about foreign political candidates. In Experiment 2, people judged information presented in documents ostensibly produced by the Department of State and the National Security Council as being of relatively higher quality when those documents were secret rather than public. Finally, in Experiment 3, people judged a National Security Council document as being of higher quality when presented as a secret document rather than a public document and evaluated others' decisions more favorably when those decisions were based on secret information. Discussion centers on the mediators, moderators, and broader implications of this secrecy heuristic in foreign policy contexts.     

The Dynamic Interaction of Personal Norms and Environment‐Friendly Buying Behavior: A Panel Study1

A deeper understanding of the attitude–norm–behavior relationship in the environmental field can be obtained by analyzing the dynamic interaction over time between relevant attitudinal variables and specific behaviors of interest. This article is based on a panel survey with a random sample of about 1,500 Danes interviewed up to 3 times in 1998 to 2000, regarding their purchase of organic food products. The panel analysis reveals that the stronger are consumers' personal norms about buying organic food products and the less they perceive organic products as expensive, the greater the likelihood that they change their purchase patterns in favor of organic products. Furthermore, one can observe significant cross‐lagged paths from past behavior to belief and norm variables.     

Ambivalent Versus Univalent Voters: Perceived Media Influences and Third-Person Perceptions

By differentiating “ambivalent” from “univalent” voters, this study argues that ambivalent voters need information to reach a decision, which implies they are more open to persuasion through media coverage than are univalent voters. In turn, they may infer that election coverage exerts a greater influence on them, resulting in smaller self–other perceptual discrepancies in terms of their coverage susceptibility. Conversely, univalent voters have made their voting choices early during the campaign; for them, only when the intended influence seems desirable does the perceived influence of campaign news on them increase, leading to a smaller self–other perceptual gap. In other words, ambivalent voters engage in motivated inferences to reduce their ambivalence-aroused discomfort, whereas univalent voters engage in motivated inferences to avoid dissonance. The results of a survey conducted during the official campaign for the 2012 Taiwanese presidential election support these predictions, demonstrating the utility of categorizing voters as ambivalent or univalent when examining the perceived effects of election campaign news.     

Hyteresis and Uncertainty: The Effect of Uncertainty on Delays to Exit Decisions

The effects of feedback variability and the availability of information on exit decisions in a nonprofitable venture were investigated in a computer simulated marketing scenario. Half of subjects received feedback relatively low in variability and half of subjects received feedback substantially higher in variability. Half of subjects in each variability condition had the opportunity to purchase additional information regarding their investment. Subjects receiving feedback higher in variability delayed exit decisions longer, invested more often, and invested more resources than subjects receiving feedback lower in variability. Subjects with no opportunity to purchase information delayed exit decisions longer, invested more often, and invested more resources than subjects with the opportunity to purchase information. The results are consistent with Dixit's (1992) theory of uncertainty and hysteresis and indicate that an uncertain environment can affect whether a decision maker continues to invest when costs are higher than profits.     

The effect of perceived message choice on persuasion

We argue that giving individuals a sense of choice over the product information they receive (i.e., message choice) can have important subsequent effects when individuals are prompted to make inferences about the company. Even when the product information that is received is exactly the same, being given a sense of choice can produce more favorable company evaluations and in turn, more favorable product judgments. The first two experiments support these hypotheses using different means of prompting company inferences: when prompted, those who had been given message choice judged the company more favorably and were more willing to purchase from that company. The third experiment illustrates when message choice effects can backfire. Specifically, when the company itself highlights the provision of message choice in the ad, and consumers are prompted to make inferences about the company, message choice can backfire because it may be perceived as a persuasion tactic rather than a sincere attempt to inform. The results support company evaluations as the mediator of message choice effects and rule out alternate accounts based on dissonance, elaboration, reactance and self-labeling explanations. These findings are important in interactive media environments where marketers have opportunities and imperatives to give consumers a sense of choice in message selection.