People often make judgments about their own and others' valuations and preferences. Across 12 studies (N=18,818), we find a robust bias in these judgments such that people overestimate the valuations and preferences of others. This overestimation arises because, when making predictions about...

Consumers with limited discretionary money face important trade-offs when deciding how to spend it. In the current research, we suggest that feelings of financial constraint increase consumers' concern about the lasting utility of their purchases, which in turn increases their preference for...

The desire to minimize regret is one of the primary drivers of consumer decisions. Yet, consumers display a persistent preference for larger assortments even though they often feel regretful and dissatisfied after choosing from such an abundance of options. We propose that consumers do aim to...