Predictions on the go: Prevalence of spontaneous spending predictions

Johanna Peetz, Melanie Simmons, Jingwen Chen and Roger Buehler

Judgment and Decision Making, 2016, vol. 11, issue 1, 48-61

Abstract: The present research examines the prevalence of predictions in daily life. Specifically we examine whether spending predictions for specific purchases occur spontaneously in life outside of a laboratory setting. Across community samples and student samples, overall self-report and diary reports, three studies suggest that people make spending predictions for about two-thirds of purchases in everyday life. In addition, we examine factors that increase the likelihood of spending predictions: the size of purchase, payment form, time pressure, personality variables, and purchase decisions. Spending predictions were more likely for larger, more exceptional purchases and for item and project predictions rather than time periods.

Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:cup:judgdm:v:11:y:2016:i:1:p:48-61_5

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