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Future Preference Uncertainty and Diversification: The Role of Temporal Stochastic Inflation

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  • Linda Court Salisbury
  • Fred M. Feinberg

Abstract

Consumers' choices tend to display greater variety when made for future versus immediate consumption. Previous accounts of such diversification differences suggested that they are driven primarily by (deterministic) shifts in underlying preference. Through a series of simulation studies, we propose and assess an alternative contributory mechanism: temporal stochastic inflation, the greater uncertainty typifying choices made for the future. We find effect sizes to be strongly influenced by relative brand attractiveness, brand attractiveness uncertainty, and degree of stochastic inflation, although not preference heterogeneity. Moreover, effect sizes are consistent with prior studies that attributed diversification differences to underlying preference shifts alone. (c) 2008 by JOURNAL OF CONSUMER RESEARCH, Inc..

Suggested Citation

  • Linda Court Salisbury & Fred M. Feinberg, 2008. "Future Preference Uncertainty and Diversification: The Role of Temporal Stochastic Inflation," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 35(2), pages 349-359, March.
    • Handle: RePEc:oup:jconrs:v:35:y:2008:i:2:p:349-359
    DOI: 10.1086/586915
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    Cited by:

    1. Erik Maier & Robert Wilken & Florian Dost, 2015. "The double benefits of consumer certainty: combining risk and range effects," Marketing Letters, Springer, vol. 26(4), pages 473-488, December.
    2. J. Wesley Hutchinson & Gal Zauberman & Robert Meyer, 2010. "—On the Interpretation of Temporal Inflation Parameters in Stochastic Models of Judgment and Choice," Marketing Science, INFORMS, vol. 29(1), pages 23-31, 01-02.
    3. Xiong, Yingqiu & Liu, Yezheng & Qian, Yang & Jiang, Yuanchun & Chai, Yidong & Ling, Haifeng, 2024. "Review-based recommendation under preference uncertainty: An asymmetric deep learning framework," European Journal of Operational Research, Elsevier, vol. 316(3), pages 1044-1057.
    4. Koert Van Ittersum, 2012. "The effect of decision makers’ time perspective on intention–behavior consistency," Marketing Letters, Springer, vol. 23(1), pages 263-277, March.

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