New model explains why we overestimate our future choices


	New model explains why we overestimate our future choices

wildcat

7-17-2008 8:11 AM

752 views

tags:

choices, consumption, over-diversification

3 Comments |

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7-17-2008 7:41 PM

bignosemousie

Woohoo! 2000 quality clips! Your clips are so consistently interesting, Wildcat. Thanks for sharing it all.

7-17-2008 8:51 PM

wildcat

thanks bignosemousie, you know what they say, a quality audience calls for quality clipping..

7-17-2008 9:58 PM

bignosemousie

a quality audience calls for quality clipping

I might need to step it up.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/c592dc52-03a4-4fb0-ab5b-16718a7e358b/AA5C8424-25FA-4112-9E2A-73B9889924FA/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.physorg.com/news135481852.html" href="http://www.physorg.com/news135481852.html" style="font-size: 11px;">www.physorg.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.physorg.com/news135481852.html">When people make choices for future consumption, they select a wider variety than when they plan to immediately consume the products. A new study in the <I>Journal of Consumer Research</I> examines the reasons behind this diversification of choices.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.physorg.com/news135481852.html">"Consumers' tendency to diversify their choices more for future than for present consumption has been demonstrated to be a robust phenomenon and to occur in a variety of situations," write authors Linda Court Salisbury (Boston College) and Fred M. Feinberg (University of Michigan).
</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.physorg.com/news135481852.html"><DIV>Previous explanations for this diversification focused on the fact that people aren't sure how their tastes for items might change over time. The new study proposes that "stochastic noise" (unpredictability or randomness) explains the over-diversification phenomenon.
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</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/AA5C8424-25FA-4112-9E2A-73B9889924FA/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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