Cornell University

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BEDR Workshop: Tom Meyvis

Tuesday, September 18, 2018 at 11:40am to 1:10pm

Sage Hall, B11
Johnson Graduate School-Management, 106 Sage Hall, Ithaca, NY 14853-6201, USA

Tom Meyvis (New York University)

Consuming regardless of quality: Consumers overestimate the impact of quality differences on the amount consumed

Heeyoung Yoon (New York University) Tom Meyvis (New York University)

Abstract: Four studies show that people overestimate how much quality influences their consumption amount. We find that people predict that they would consume more high-quality than low-quality items, but their actual consumption amount does not differ by the quality. We propose that consumers overestimate the mindfulness of their consumption decisions, resulting in an overestimation of the influence of consumption norms, and an underestimation of the influence of (non-discerning) visceral factors such as hunger and boredom. We also rule out that this effect is driven by people’s inadequate accounting for the effects of satiation.

Event Type

Conference/Workshop, Seminar

Departments

Economics

Tags

economics, EconSeminar, EconBehave

Hashtag

#CornellEcon

Contact E-Mail

hra27@cornell.edu

Contact Name

Heather LaCombe

Contact Phone

607-255-4878

Speaker

Tom Meyvis

Speaker Affiliation

New York University

Dept. Web Site

http://economics.cornell.edu/

Open To

Cornell Economics Community (List Serve Members)

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