Purpose Very little research addresses whether the values that consumers bring to a situation can affect their reactions to a brand failure. This paper suggests the interesting possibility that consumers may react very differently to the same brand failure depending upon their values. Here, the...

People frequently overestimate the impact of an event when they imagine it, relative to when they actually experience it. This phenomenon, known as the impact bias, has been well established as an intrapersonal phenomenon. We extend it to the inherently interpersonal marketing setting involving...