In Search of Homo Economicus: Cognitive Noise and the Role of Emotion in Preference Consistency
AbstractUnderstanding the role of emotion in forming preferences is critical in helping firms choose effective marketing strategies and consumers make appropriate consumption decisions. In five experiments, participants made a set of binary product choices under conditions designed to induce different degrees of emotional decision processing. The results consistently indicate that greater reliance on emotional reactions during decision making is associated with greater preference consistency and less cognitive noise. Additionally, the results of a meta‐analytical study based on data from all five experiments further show that products that elicit a stronger emotional response are more likely to yield consistent preferences.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Consumer Research.
Volume (Year): 36 (2009)
Issue (Month): 2 ()
Pages: 173 - 187
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Web page: http://www.journals.uchicago.edu/JCR/
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- Jeffrey V. Butler & Luigi Guiso & Tullio Jappelli, 2013.
"Manipulating Reliance on Intuition Reduces Risk and Ambiguity Aversion,"
EIEF Working Papers Series
1301, Einaudi Institute for Economics and Finance (EIEF), revised Jan 2013.
- Jeffrey V. Butler & Luigi Guiso & Tullio Jappelli, 2013. "Manipulating Reliance on Intuition Reduces Risk and Ambiguity Aversion," CSEF Working Papers 327, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Butler, Jeff & Guiso, Luigi & Jappelli, Tullio, 2013. "Manipulating Reliance on Intuition Reduces Risk and Ambiguity Aversion," CEPR Discussion Papers 9461, C.E.P.R. Discussion Papers.
- Van Kerckhove, Anneleen & Geuens, Maggie & Vermeir, Iris, 2012. "Intention superiority perspectives on preference-decision consistency," Journal of Business Research, Elsevier, vol. 65(5), pages 692-700.
- Sebastian Lehmann & Martin Reimann, 2012. "The influence of time and money on product evaluations - a neurophysiological analysis," FEMM Working Papers 120011, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
- Butler, Jeffrey V. & Guiso, Luigi & Jappelli, Tullio, 2013. "Manipulating reliance on intuition reduces risk and ambiguity aversion," CFS Working Paper Series 2013/13, Center for Financial Studies (CFS).
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