The idea that choices alter preferences has been widely studied in psychology, yet prior research has primarily focused on choices for which all alternatives were salient at the time of choice. Opportunity costs capture the value of the best forgone alternative and should be considered as part...

It is common for authors discovering a significant interaction of a measured variable X with a manipulated variable Z to examine simple effects of Z at different levels of X. These “spotlight” tests are often misunderstood even in the simplest cases, and it appears that consumer researchers...