The Category Size Bias and Consumers' Perceptions of Risk

The Category Size Bias and Consumers' Perceptions of Risk

We identify a novel decision bias in which probability judgments are influenced by how possible outcomes are grouped, such that outcomes classified into larger groups are perceived as more likely to occur. This category size bias contributes to our understanding of how categorization influences cons...

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Bibliographische Detailangaben
Hauptverfasser: Isaac, Mathew S, Brough, Aaron R
Format: Tagungsbericht
Sprache:eng
Schlagworte:
Bias
Consumer behavior
Decision making
Novels
Perceptions
Probability
Studies
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Beschreibung
Zusammenfassung:We identify a novel decision bias in which probability judgments are influenced by how possible outcomes are grouped, such that outcomes classified into larger groups are perceived as more likely to occur. This category size bias contributes to our understanding of how categorization influences consumers' perceptions of risk and probability.
ISSN:0098-9258