A set of alternatives under consideration is often divided into subsets (or local sets) by some external (e.g., product display format at the store) or internal (e.g., a decision rule) factor. We propose that the manner in which a global set of alternatives varying in price and quality is...

To properly consider the opportunity costs of a purchase, consumers must actively generate the alternatives that it would displace. The current research suggests that consumers often fail to do so. Even under conditions promoting cognitive effort, various cues to consider opportunity costs...

Consumers often organize their time by scheduling various tasks, but also leave some time unaccounted. The authors examine whether ending an interval of unaccounted time with an upcoming task systematically alters how this time is perceived and consumed. Eight studies conducted both in the lab...