Add to ORKGPeer-Reviewed Journal Article. 17 pagesIn terms of the expense, spending $50 a week on both commuting and on a recreational happy hour should be perceived equally. Yet, it is proposed that consumers tend to overestimate their level of spending on necessities, and underestimate their extent of nonessential expenses. In two studies, participants predicted their level of spending in essential and nonessential purchase categories, and then recorded their actual spending across multiple weeks. Results show support for each hypothesis in some categories, and propose factors that produce accurate estimates for other purchase types. Consequences of spending misperceptions are discussed, as well as suggestions to reduce them
We use survey questions about spending in hypothetical scenarios to investigate features of propensi...
contextual factors that influence spending habits, Furnham, 1999; attitudes toward money management,...
Consumers often fail to consider the alternative ways to spend money when making decisions to buy co...
Peer-Reviewed Journal Article. 17 pagesIn terms of the expense, spending $50 a week on both commutin...
The present research develops a prototype theory of consumer expense misprediction that helps explai...
Foundational research in marketing and behavioral economics has revealed a great deal about the psyc...
Individuals have to plan for the use of their resources (e.g., time, money, etc.) daily. Factors tha...
This article examines how consumers forecast their future spare money, or “financial slack.” Althoug...
Consumers often behave differently than they would ideally like to behave. We propose that an antici...
We propose that consumers have mental budgets for grocery trips that are typically comprised of both...
Budgeting allows consumers to create a plan on how to spend their money, and making a budget is ofte...
People often underestimate their future personal spending. Across four studies we examined an "unpac...
University, USA Recent research suggests that consumers have in-store slack for grocery trips -they ...
We propose that consumers have mental budgets for grocery trips that are typically composed of both ...
Consumers display an expense prediction bias in which they underpredict their future spending. The a...
We use survey questions about spending in hypothetical scenarios to investigate features of propensi...
contextual factors that influence spending habits, Furnham, 1999; attitudes toward money management,...
Consumers often fail to consider the alternative ways to spend money when making decisions to buy co...
Peer-Reviewed Journal Article. 17 pagesIn terms of the expense, spending $50 a week on both commutin...
The present research develops a prototype theory of consumer expense misprediction that helps explai...
Foundational research in marketing and behavioral economics has revealed a great deal about the psyc...
Individuals have to plan for the use of their resources (e.g., time, money, etc.) daily. Factors tha...
This article examines how consumers forecast their future spare money, or “financial slack.” Althoug...
Consumers often behave differently than they would ideally like to behave. We propose that an antici...
We propose that consumers have mental budgets for grocery trips that are typically comprised of both...
Budgeting allows consumers to create a plan on how to spend their money, and making a budget is ofte...
People often underestimate their future personal spending. Across four studies we examined an "unpac...
University, USA Recent research suggests that consumers have in-store slack for grocery trips -they ...
We propose that consumers have mental budgets for grocery trips that are typically composed of both ...
Consumers display an expense prediction bias in which they underpredict their future spending. The a...
We use survey questions about spending in hypothetical scenarios to investigate features of propensi...
contextual factors that influence spending habits, Furnham, 1999; attitudes toward money management,...
Consumers often fail to consider the alternative ways to spend money when making decisions to buy co...