On the benefits of being naive: the choice of contract duration with projection bias

Bienenstock, Sophie; Ropaul, Maïva

doi:10.1007/s10657-017-9569-0

Cited by 2 publications

(2 citation statements)

References 25 publications

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“…Our focus here is on hunger. Several studies have tested projection bias in consumer behaviour research (Acland & Levy, 2015; Bienenstock & Ropaul, 2018; Buchheim & Kolasak, 2015). Projection bias has also been tested in the food sector and the under‐appreciation of the effects of hunger is, perhaps, the most apparent evidence of this phenomenon (see de‐Magistris & Gracia, 2016; Gilbert et al, 2002; Briz et al, 2015, for detailed analysis and discussion of testing for projection bias).…”

Section: Introductionmentioning

confidence: 99%

Do virtual reality experiments replicate projection bias phenomena? Examining the external validity of a virtual supermarket

Magistris

Lopéz-Galán

Ballco

2021

J Agricultural Economics

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We examine whether projection bias is also present in virtual environments. Two hypotheses were tested using a between‐subject experiment with three conditions: (i) experimental context (virtual vs. real); (ii) consumption periods (today vs. tomorrow); and (iii) appetite level (hungry vs. satiated). An exact replication of the virtual supermarket was performed in a real supermarket setting to test for robustness. The findings indicate the presence of a projection bias in the virtual reality setting. The robustness test used to compare a virtual and a real purchase at the supermarket showed that subjects in the virtual environment behave similarly to those in a real supermarket. These results validate our findings and highlight virtual reality use as a new tool for investigating consumer behaviour in food research.

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Section: Introductionmentioning

confidence: 99%

Do virtual reality experiments replicate projection bias phenomena? Examining the external validity of a virtual supermarket

Magistris

Lopéz-Galán

Ballco

2021

J Agricultural Economics

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“…Further, Noor (2007) underlines that self-control problems may be one reason for the low saving rate. Bienenstock and Ropaul (2018) investigate consumers with long-term contract. They compare naïve individuals whose decision results in projection bias and sophisticated consumers who accurately estimate their future willingness to pay (WTP).…”

Section: The Change Of Preferences and Tastesmentioning

confidence: 99%

The Suboptimal Future Outcome of Consumer Decisions: A Survey on Projection Bias

Kovács

2023

Studies in Business and Economics

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The purpose of this paper is to study projection bias when individuals decide on their future consumption. The present research aims to investigate what and how factors influence the misprediction of future preferences and tastes, resulting in a gap between the expected and realised consumer utility. An online survey was conducted in Hungary to explore how personal drivers and beliefs influence the outcome of purchasing decisions on future consumption and how they contribute to a consumer utility gap. The research results demonstrate that high-level naivety goes with a minor change of preferences and tastes between the dates of purchasing choice and consumption, resulting in a small utility gap. Furthermore, individuals with stronger financial self-control perceive their savings to be higher and their utility gap to be smaller. We show that financial self-control, the change of preferences and tastes and the education level are significant predictors of the consumer utility gap regarding projection bias.

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On the benefits of being naive: the choice of contract duration with projection bias

Cited by 2 publications

References 25 publications

Do virtual reality experiments replicate projection bias phenomena? Examining the external validity of a virtual supermarket

Do virtual reality experiments replicate projection bias phenomena? Examining the external validity of a virtual supermarket

The Suboptimal Future Outcome of Consumer Decisions: A Survey on Projection Bias

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