The Inaccuracies of Mental Accounting: What factors can increase or decrease accuracy
This study will focus on the relationship between the inaccuracy of mental accounting and estimation, and the factors that can increase or decrease accuracy. The goal is to establish that there is in fact a relationship between the accuracy of estimates and certain factors such as frequency of use, visibility of product, inconvenience of running out, importance of product, and to examine how that relationship can be applied to certain conditions such as obesity and stockpiling.
This study will be conducted using mainly quantitative data obtained from surveys. The purpose of the survey was to measure the accuracy of shoppers' estimates for various, common household products. Two versions of the survey were used with the only difference between the two being the products listed. With the data obtained from the surveys, we expect to be able to show that there is indeed a strong correlation between the accuracy of people's estimations and the various factors such as frequency of use, visibility of product, inconvenience of running out, importance of product.
This study will be conducted using mainly quantitative data obtained from surveys. The purpose of the survey was to measure the accuracy of shoppers' estimates for various, common household products. Two versions of the survey were used with the only difference between the two being the products listed. With the data obtained from the surveys, we expect to be able to show that there is indeed a strong correlation between the accuracy of people's estimations and the various factors such as frequency of use, visibility of product, inconvenience of running out, importance of product.
School:
University of Illinois at Urbana-Champaign
Department:
Accounting
Research Advisor:
Brian Wansink
Department of Research Advisor:
Marketing
Year of Publication:
2002