A review of the literature.
Personality and Social Psychology Review, 5 1 , Hershfield, H. Increasing saving behavior through age-progressed renderings of the future self. Journal of Marketing Research, 48, S23—S Hirshleifer, D. On the survival of overconfident traders in a competitive securities market. Journal of Financial Markets, 4 1 , Iyengar, S. When choice is demotivating: Can one desire too much of a good thing? Journal of Personality and Social Psychology, 79, Jenner, E.
Hand hygiene posters: Motivators or mixed messages? Journal of Hospital Infection, 60, Johnson, E. Do defaults save lives? Science, , Kahneman, D. Thinking, fast and slow.
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London: Allen Lane. Maps of bounded rationality: Psychology for behavioral economics. The American Economic Review, 93, Representativeness revisited: Attribute substitution in intuitive judgment. Gilovich, D. Kahneman Eds. New York: Cambridge University Press. Evaluation by moments: Past and future. Tversky Eds. Anomalies: The endowment effect, loss aversion, and status quo bias.
Journal of Economic Perspectives , 5 1 , The psychology of preference. Scientific American, , Prospect theory: An analysis of decision under risk. Econometrica, 47 , Subjective probability: A judgment of representativeness. Cognitive Psychology, 3, Kardes, F. Consumer inference: a review of processes, bases, and judgment contexts. Journal of Consumer Psychology, 14 3 , Karlsson, N. The ostrich effect: Selective attention to information. Kruger, J. The effort heuristic.
Journal of Experimental Social Psychology, 40 1 , Laibson, D. Golden eggs and hyperbolic discounting. Quarterly Journal of Economics , , Lakshminarayanan, V. The evolution of decision-making under risk: Framing effects in monkey risk preferences. Journal of Experimental Social Psychology, 47, Levin, I. All frames are not created equal: A typology and critical analysis of framing effects. Organizational Behavior and Human Decision Processes, 76, Loewenstein, G. Hot-cold empathy gaps and medical decision-making. Health Psychology, 24 Suppl.
Emotions in economic theory and economic behavior. The American Economic Review, 90 2 , Economics behaving badly. The New York Times. Projection bias in predicting future utility. Quarterly Journal of Economics, 4 , Risk as feelings. Psychological Bulletin, 2 , Madrian, B. The power of suggestion: Inertia in k participation and savings behavior.
Maheswaran, D. Brand name as a heuristic cue: The effects of task importance and expectancy confirmation on consumer judgments.
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Journal of Consumer Psychology, 1, March, J. Bounded rationality, ambiguity, and the engineering of choice. The Bell Journal of Economics, 9 2 , Markus, H. Culture and the self: Implications for cognition, emotion and motivation Psychological Review, 98, Mazar, N. The dishonesty of honest people: A theory of self-concept maintenance.
Journal of Marketing Research, 45 6 , Dishonesty in everyday life and its policy implications. Do green products make up better people? Psychological Science, 21, Mazzoni, G. Hindsight bias, the misinformation effect, and false autobiographical memories.
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Merritt, A. Moral self-licensing: When being good frees us to be bad. Mitchell, G. Revisiting truth or triviality: The external validity of research in the psychological laboratory. Perspectives on Psychological Science, 7 2 , Moore, D. The trouble with overconfidence. Psychological Review, 2 , Morewedge, C. The least likely of times: How remembering the past biases forecasts of the future. Psychological Science 16 8 , Murphy, S. Affect, cognition, and awareness: Affective priming with optimal and suboptimal stimulus exposures.
Journal of Personality and Social Psychology, 64, Nickerson, R. Confirmation bias: A ubiquitous phenomenon in many guises. Review of General Psychology, 2, Nisbett, R. Culture and systems of thought: Holistic versus analytic cognition. The Halo Effect: Evidence for unconscious alteration of judgments. Journal of Personality and Social Psychology, 35, Norton, M. Journal of Consumer Psychology, 22, Doing it now or later. American Economic Review, 89 1 , Odean, T.
Volume, volatility, price, and profit when all traders are above average. Journal of Finance, 53 6 , Ofir, C. Memory-based store price judgments: the role of knowledge and shopping experience. Journal of Retailing, 84 4 , Pallier, G. The role of individual differences in the accuracy of confidence judgments. Journal of General Psychology, 3 , Prelec, D. The red and the black: Mental accounting of savings and debt. Marketing Science, 17 1 , Always leave home without it: A further investigation of the credit-card effect on willingness to pay.
Marketing Letters. Read, D. Diversification bias: Explaining the discrepancy in variety seeking between combined and separated choices. Journal of Experimental Psychology: Applied, 1, Rick, S. Tightwads and spendthrifts: An interdisciplinary review. Financial Planning Review, 1 , e Risk-sensitive decision making examined within an evolutionary framework.
American Behavioral Scientist, 43 6 , Samson, A. A simple change that could help everyone drink less. Psychology Today. Emergency purchasing situations: Implications for consumer decision-making. Journal of Economic Psychology, 44, Two minds, three ways: Dual system and process models in consumer psychology. Academy of Marketing Science Review, 2, 48— Samuelson, W. Status quo bias in decision making. Journal of Risk and Uncertainty, 1, Schwartz, B. The paradox of choice: Why more is less. New York: Ecco.
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Shah, A. Heuristics made easy: an effort-reduction framework. Shampanier, K. Zero as a special price: The true value of free products. Marketing Science, 26, Shang, J. Field experiments in charitable contribution: The impact of social influence on the voluntary provision of public goods. The Economic Journal , , — Shepperd, J. Exploring the causes of comparative optimism.
Psychologica Belgica, 42, Shiller, R. Irrational exuberance. Shiv, B. Placebo effects of marketing actions: Consumers may get what they pay for.
Journal of Marketing Research, 42 4 , Simon, H. Models of bounded rationality. Slovic, P. The affect heuristic. Violence risk assessment and risk communication: The effects of using actual cases, providing instructions, and employing probability vs. Law and Human Behavior, 24 3 , Strecher, V. Goal setting as a strategy for health behavior change. Health Education Quarterly , 22, Sullivan, P. Thaler, R. Misbehaving: The making of behavioral economics. Allen Lane.
Mental accounting and consumer choice. Marketing Science , 27, Mental accounting matters. Journal of Behavioral Decision Making. Anomalies: Saving, fungibility, and mental accounts. The Journal of Economic Perspectives, 4, Nudge: Improving decisions about health, wealth, and happiness. Save More Tomorrow: Using behavioral economics to increase employee saving.
Journal of Political Economy, , SS Gambling with the house money and trying to break even: The effects of prior outcomes on risky choice. Management Science, 36 6 , Thorndike, A. A 2-phase labeling and choice architecture intervention to improve healthy food and beverage choices. American Journal of Public Health, 3 , Triandis, H. Interpersonal behavior. Tulving, E. Priming effects in word fragment completion are independent of recognition memory. Tversky, A. The Framing of Decisions and the Psychology of Choice. Science , , Most marketers understand heuristics, if not academically, then at least on an instinctive level.
We use TripAdvisor ratings to trigger social proof heuristics why make up your own mind when others can do it for you? But how do heuristics translate into ecommerce? The Journal of Social Psychology , 10 2 , Milgram, S. Behavioral study of obedience. The Journal of Abnormal and Social Psychology , 67 4 , Sherif, M. A study of some social factors in perception. Archives of Psychology Columbia University.
Tajfel, H. Social categorization and intergroup behavior. European journal of social psychology , 1 2 , Triplett, N. The dynamogenic factors in pacemaking and competition. American journal of Psychology , 9 4 , Weiner, B. An attributional theory of motivation and emotion.
New York: Springer-Verlag. McLeod, S. Social psychology. Toggle navigation. Bandura Social Learning Theory. Bandura introduced the notion that behavior in the social world could be modeled. Weiner was interested in the attributions made for experiences of success and failure and introduced the idea that we look for explanations of behavior in the social world.
Participants were told that they were taking part in a study on learning, but always acted as the teacher when they were then responsible for going over paired associate learning tasks. Volunteers took part in a simulation where they were randomly assigned the role of a prisoner or guard and taken to a converted university basement resembling a prison environment.
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Key Features. Objective Measurement. All behavior occurs in a social context, even when nobody else is physically present. A major influence on people's behavior, thought processes and emotions are other people and the society they have created.
Social psychology provides clear predictions.
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