Convexity Neglect in Consumer Decision Making

Haipeng (Allan) Chen; Alina Sorescu; Sorin Sorescu; Michael Tsiros

doi:10.1007/978-3-319-10873-5_165

Convexity Neglect in Consumer Decision Making

Haipeng (Allan) Chen, Alina Sorescu, Sorin Sorescu, Michael Tsiros

Marketing and Supply Chain

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

Abstract

We identify a systematic bias due to consumers’ tendency to neglect convexity when summing or averaging ratios. We demonstrate the consequences of this bias in consumers’ judgment of travel time, fuel consumption and stock evaluation. We also show that the effects are not due to motivation or calculation difficulty.

Original language	English
Title of host publication	Developments in Marketing Science
Subtitle of host publication	Proceedings of the Academy of Marketing Science
Pages	286
Number of pages	1
DOIs	https://doi.org/10.1007/978-3-319-10873-5_165
State	Published - 2015

Publication series

Name	Developments in Marketing Science: Proceedings of the Academy of Marketing Science
ISSN (Print)	2363-6165
ISSN (Electronic)	2363-6173

Bibliographical note

Publisher Copyright:
© 2015, Academy of Marketing Science.

ASJC Scopus subject areas

Strategy and Management
Marketing

Access to Document

10.1007/978-3-319-10873-5_165

Cite this

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Convexity Neglect in Consumer Decision Making. / Chen, Haipeng (Allan); Sorescu, Alina; Sorescu, Sorin et al.
Developments in Marketing Science: Proceedings of the Academy of Marketing Science. 2015. p. 286 (Developments in Marketing Science: Proceedings of the Academy of Marketing Science).

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

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Convexity Neglect in Consumer Decision Making

Abstract

Publication series

Bibliographical note

ASJC Scopus subject areas

Access to Document

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