We propose aggregate customization as an approach to improve individual estimates using a hierarchical Bayes choice model. Our approach involves the use of prior estimates to build a common design customized for the average respondent. We conduct two simulation studies to investigate conditions...

Consumers frequently simplify complex choices by setting attribute cutoffs, which are minimum acceptable levels that an alternative must possess to be considered further. The authors explore the extent to which consumers adapt these cutoffs to the choice environment. They show that, as the...

This work examines the process through which thrift versus prestige goals can nonconsciously affect decisions in a choice task. Drawing upon research on nonconscious goal pursuit, we present a theoretical framework detailing how consumer choices are affected by incidentally activated goals. We...

After developing a conceptual analysis of consumer valuation of multiple risks, we explore both economic and cognitive hypotheses regarding individual risk-taking. Using a sample of over 1,500 consumers, our study ascertains risk-dollar tradeoffs for the risks associated with using an...

Situations in which individuals receive information seldom involve scientific consensus over the level of the risk. When scientific experts disagree, people may process the information in an unpredictable manner. The original data presented here for environmental risk judgments indicate a...

How do preferences change when consumers focus on the anticipated satisfaction with a purchase rather than choice? In a series of three studies, we show that preferences, both expressed and revealed, change depending on the degree to which anticipated satisfaction is evoked. These shifts in...