Book chapter
Convexity Neglect in Consumer Decision Making
The Sustainable Global Marketplace, pp.286-286
Developments in Marketing Science: Proceedings of the Academy of Marketing Science, Springer International Publishing
2015
DOI: 10.1007/978-3-319-10873-5_165
Abstract
We identify a systematic bias due to consumers’ tendency to neglect convexity when summing or averaging ratios. We demonstrate the consequences of this bias in consumers’ judgment of travel time, fuel consumption and stock evaluation. We also show that the effects are not due to motivation or calculation difficulty.
Details
- Title: Subtitle
- Convexity Neglect in Consumer Decision Making
- Creators
- Haipeng (Allan) Chen - Texas A&M UniversityAlina Sorescu - Texas A&M UniversitySorin Sorescu - Texas A&M UniversityMichael Tsiros - Center for Independent Living
- Resource Type
- Book chapter
- Publication Details
- The Sustainable Global Marketplace, pp.286-286
- Publisher
- Springer International Publishing; Cham
- Series
- Developments in Marketing Science: Proceedings of the Academy of Marketing Science
- DOI
- 10.1007/978-3-319-10873-5_165
- eISSN
- 2363-6173
- ISSN
- 2363-6165
- Language
- English
- Date published
- 2015
- Academic Unit
- Marketing
- Record Identifier
- 9984618524302771
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