The Skeptical Shopper

A Metacognitive Account for the Effects of Default Options on Choice

Datos Bibliográficos

ID2215839
AutoresChristina L Brown (University of Michigan), Aradhna Krishna (0000-0002-2635-5016, University of Michigan)
Año2004
Volumen31
Número3
Páginas529-539
Fecha de publicación2004-12-01
Peer ReviewedSí
Open AccessNo
TipoARTICLE
RevistaJournal of Consumer Research (JOURNAL)
Identificadores de la revistaISSN: 0093-5301 • E-ISSN: 1537-5277
EditorialOxford University Press (OUP) (PUBLISHER)
DOI10.1086/425087
OpenAlexW2127201852
IdiomaEN
Citas recibidas33

A default option is the choice alternative a consumer receives if he/she does not explicitly specify otherwise. In this article we argue that defaults can invoke a consumer's “marketplace metacognition,” his/her social intelligence about marketplace behavior. This metacognitive account of defaults leads to different predictions than accounts based on cognitive limitations or endowment: in particular, it predicts the possibility of negative or “backfire” default effects. In two experiments, we demonstrate that the size and direction of the default effect depend on whether this social intelligence is invoked and how it changes the interpretation of the default

Actuarial science · Business · Cognition · Cognitive psychology · Economics · Epistemology · Metacognition · Skepticism · Financial Markets and Investment Strategies · Financial Reporting and Valuation Research · Neuroscience · Philosophy · Psychology