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Through five experiments, we provide a cognitive account of when and why nine-ending prices are perceived to be smaller than a price one cent higher. First, this occurs only when the leftmost digits of the prices differ (e.g., $2.99 vs. $3.00). Second, the left-digit effect also depends on the numerical and psychological distances between the target price(More)
This is a preliminary draft. All comments and suggestions are welcome. Please do not quote without the author's permission. and in particular to the king of advisors, Don Lehmann, whom the author hopes he grows up to be like someday. ABSTRACT We explore consumer responses to stockouts, both in terms of consumer satisfaction with the decision process, and in(More)
for their comments on previous drafts of this article. The authors are indebted to Suchi Chandran for her assistance at various stages of this project and to Manoj Thomas for his assistance in data collection. Special thanks are due to Kalpana Suresh for painstakingly helping with data entry. Finally, they acknowledge the invaluable input and guidance(More)
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 the next year are closer to recorded expenses (study 1). The difficulty of estimating budgets for the next year imparts low confidence and leads to upward adjustment. When consumers'(More)
Recent research has demonstrated that merely measuring consumers' purchase intentions changes their subsequent purchase behavior. Several different alternative explanations have been proposed to explain why this " mere-measurement effect " occurs. However, these explanations have not been tested to date. The purpose of this paper is to test several(More)
Studies of the relationship between purchase intentions and purchase behavior have ignored the possibility that the very act of measurement may inflate the association between intentions and behavior, a phenomenon called " self-generated validity. " In this research, the authors develop a latent model of the reactive effects of measurement that is(More)
We explore the use of shopping lists as an external memory aid to consumers' grocery shopping by examining the factors that influence the content ofconsumers' shopping lists and the effectiveness of shopping lists as external memory aids. We analyze the shopping lists and actual purchase behavior of a panel of consumers during multiple grocery shopping(More)
Purchase intentions are routinely used to forecast sales of existing products and services. While past studies have shown that intentions are predictive of sales, they have only examined the absolute accuracy of intentions, not their accuracy relative to other forecasting methods. For example, no research has been able to demonstrate that intentions-based(More)