Joy leads to overconfidence, and a simple countermeasure

Overconfidence has been identified as a source of suboptimal decision making in many real-life domains, with often far-reaching consequences. This study identifies a mechanism that can cause overconfidence and demonstrates a simple, effective countermeasure in an incentive-compatible experimental study. We observed that joy induced overconfidence if the reason for joy (an unexpected gift) was u

Method of treating fabrics and fibres

Inventor name used in this publication: 胡军岩, Hu Jun-yanInventor name used in this publication: 郑燕花Inventor name used in this publication: 杨国荣, Yeung K. W.Inventor name used in this publication: 袁进华Title in Traditional Chinese: 處理織物或纖維的方法ChinaVersion of Recor

Two minds, three ways: dual system and dual process models in consumer psychology

Dual system and dual process views of the human mind have contrasted automatic, fast, and non-conscious with controlled, slow, and conscious thinking. This paper integrates duality models from the perspective of consumer psychology by identifying three relevant theoretical strands: Persuasion and attitude change (e.g. Elaboration Likelihood Model), judgment and decision making (e.g. Intuitive vs. Reflective Model), as well as buying and consumption behavior (e.g. Reflective-Impulsive Model). Covering different aspects of consumer decision making, we discuss the conditions under which different types of processes are evoked, how they interact and how they apply to consumers’ processing of marketing messages, the evaluation of product-related information, and purchasing behavior. We further compare and contrast theoretical strands and incorporate them with the literature on attitudes, showing how duality models can help us understand implicit and explicit attitude formation in consumer psychology. Finally, we offer future research implications for scholars in consumer psychology and marketing