The authors develop a model of how consumers estimate the level of product inventory in their households. Two laboratory experiments and two field studies involving 29 product categories show that (1) consumers anchor their estimates on their average inventory and fail to adjust sufficiently;...

Five studies show that people, including experts such as professional chefs, estimate quantity decreases more accurately than quantity increases. We argue that this asymmetry occurs because physical quantities cannot be negative. Consequently, there is a natural lower bound (zero) when...

When people stockpile products, how do they decide when and how much they will consume? To answer this question, the authors develop a framework that shows how the salience and convenience of products influence postpurchase consumption incidence and quantity. Multiple research methods -...