Consumer choices are a result of an interplay of two systems: fast and intuitive thinking (System 1) and more deliberative reasoning (System 2). The present research examines the implication of the interplay between the two systems for context effects in choice by exploring the consequences of...

In two experiments we study the endowment effect in the exchange of an endowment for an alternative product. The products differed either in their unique-positive or unique-negative features. Furthermore, we compared endowment effects for both hedonic and utilitarian goods. The results of the...

People are frequently challenged by goals that demand effort and persistence. As a consequence, philosophers, psychologists, economist and others have studied the factors that enhance task motivation. Using a sample of undergraduate students and a sample of working adults, we demonstrate that...