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Forecasting clients' reactions: How does the perception of strategic behavior influence the acceptance of advice?

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  • Jodlbauer, Barbara
  • Jonas, Eva
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    Abstract

    Because they want high quality information, people often follow advice from advisors with high levels of expertise and confidence, and a reputation for accuracy. However, clients cannot always be sure that an advisor is actually using a knowledge advantage to act in the client's best interests. In two studies we investigated the influence of an advisor's perceived degree of self-interested intention on the client's intention to accept and use their advice. We report two experiments in which clients received the same advice from a supposed representative of either a profit or a non-profit organization. The results of our first study suggest that clients who were confronted with an advisor from an organization with a profit-oriented background ascribed higher levels of self-interested intentions to the advisor and perceived the advisor to be less trustworthy. Furthermore, clients were less willing to rely on the advisor's recommendation, and this effect was mediated by the perceived trustworthiness of the advisor. In our second study we conceptually replicated the findings of Study 1 using behavioral measures, and also differentiated three different facets of trustworthiness (competence, benevolence and integrity) in the interaction between advisor and client.

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    Bibliographic Info

    Article provided by Elsevier in its journal International Journal of Forecasting.

    Volume (Year): 27 (2011)
    Issue (Month): 1 (January)
    Pages: 121-133

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    Handle: RePEc:eee:intfor:v:27:y::i:1:p:121-133

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    Web page: http://www.elsevier.com/locate/ijforecast

    Related research

    Keywords: Advice Self-interest Trust Decision making;

    References

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    1. Harvey, Nigel & Harries, Clare & Fischer, Ilan, 2000. "Using Advice and Assessing Its Quality," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 81(2), pages 252-273, March.
    2. Matt Twyman & Nigel Harvey & Clare Harries, 2008. "Trust in motives, trust in competence: Separate factors determining the effectiveness of risk communication," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3, pages 111-120, January.
    3. Sniezek, Janet A. & Buckley, Timothy, 1995. "Cueing and Cognitive Conflict in Judge-Advisor Decision Making," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 62(2), pages 159-174, May.
    4. Sniezek, Janet A. & Van Swol, Lyn M., 2001. "Trust, Confidence, and Expertise in a Judge-Advisor System," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 84(2), pages 288-307, March.
    5. Yaniv, Ilan & Kleinberger, Eli, 2000. "Advice Taking in Decision Making: Egocentric Discounting and Reputation Formation," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 83(2), pages 260-281, November.
    6. Gavan J. Fitzsimons & Donald R. Lehmann, 2004. "Reactance to Recommendations: When Unsolicited Advice Yields Contrary Responses," Marketing Science, INFORMS, INFORMS, vol. 23(1), pages 82-94, September.
    7. Bonaccio, Silvia & Dalal, Reeshad S., 2006. "Advice taking and decision-making: An integrative literature review, and implications for the organizational sciences," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 101(2), pages 127-151, November.
    8. Harvey, Nigel & Fischer, Ilan, 1997. "Taking Advice: Accepting Help, Improving Judgment, and Sharing Responsibility," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 70(2), pages 117-133, May.
    9. de Vries, Sjerp & Wilke, Henk A. M., 1995. "An adviser in resource management situations: Configural weighing of recommendations," Journal of Economic Psychology, Elsevier, Elsevier, vol. 16(1), pages 115-135, March.
    10. Jonas, Eva & Frey, Dieter, 2003. "Information search and presentation in advisor-client interactions," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 91(2), pages 154-168, July.
    11. Yaniv, Ilan, 2004. "Receiving other people's advice: Influence and benefit," Organizational Behavior and Human Decision Processes, Elsevier, Elsevier, vol. 93(1), pages 1-13, January.
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    Cited by:
    1. Wright, George & Rowe, Gene, 2011. "Group-based judgmental forecasting: An integration of extant knowledge and the development of priorities for a new research agenda," International Journal of Forecasting, Elsevier, Elsevier, vol. 27(1), pages 1-13, January.

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