Learning from Mixed Feedback: Anticipation of the Future Reduces Appreciation of the Present
Year: 2007
Type: article
Abstract: Consumers can evaluate their past choices by comparing their obtained outcome to other possible outcomes. We demonstrate that how people process this comparative feedback depends on whether they use it to prepare for future decisions. In particular, the anticipation of similar future choices increases consumers' sensitivity to comparisons with better alternatives and reduces their liking of the chosen option. Our findings indicate that forward-looking consumers selectively test the hypothesis that their current choice can be improved on and, as a result, disproportionately attend to the unfavorable comparisons and fail to appreciate the value of their current choice.
Source: Journal of Consumer Research
DOI: 10.1086/519148
Authors: Tom Meyvis, Alan D. J. Cooke
Institution: University of Florida
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2121903300