Reasoning is generally seen as a means to improve knowledge and make better decisions.
However, much evidence shows that reasoning often leads to epistemic distortions and poor …

Exploring effective measures to promote rural household consumption is a challenge for
developing countries, where rural areas often face severe financial exclusion and …

Many psychological phenomena have been explained primarily in terms of intrapsychic
motives to maintain particular cognitive or affective states—such as motives for consistency …

Mental accounts are often characterized as self-control devices that consumers employ to
prevent excess spending and consumption. However, under certain conditions of ambiguity …

Traditionally, studies examining decision-making heuristics and biases (H&B) have focused
on aggregate effects using between-subjects designs in order to demonstrate violations of …

Although the effect of monetary sunk costs on decision-making is widely discussed, research
is still fragmented, and results are sometimes controversial. One reason for this incomplete …

Decision‐makers are sometimes depicted as impulsive and overly influenced by 'hot',
affective factors. The present research suggests that decision‐makers may be too 'cold'and …

Consider a decision maker, Mr. A, who is faced with a choice between two options. In one
option, he will earn $100 for sure. In the other option, there is a 50 percent chance of earning …

In many industries, firms introduce successive generations of new and enhanced product
models to remain competitive. Product enhancements target first-time purchasers and …

Consumers' budgets are influenced by the temporal frame used for the budget period.
Budgets planned for the next month are much lower than recorded expenses, while those for …