Europoly Money: How Do Tourists Convert Foreign Currencies to Make Spending Decisions?

This paper examines how tourists convert foreign currencies to make spending decisions. Six studies demonstrate how sequential (Study 1) and simultaneous (Study 2) exposure to nominally different (but economically identical) prices, and the manner in which tourists perform currency conversions (Studies 3–5) influence price perceptions and purchase intentions. Study 6 shows the effects using macroeconomic spending behavior from 1993 to 2008 spanning the introduction of the Euro. The general discussion concludes with a model of how numerical inputs are combined to make judgments as a function of the number of inputs available and their ease of use.     

Choice in Computer-Mediated Environments

In the last several years, the increased diffusion of computer andtelecommunications technologies in businesses and homes has produced newways for organizations to connect with their customers. These computermediated environments (CMEs) such as the World Wide Web raise new researchquestions. In this paper, we examine the potential research issuesassociated with CMEs in five areas: (1) decision processes, (2) advertisingand communications, (3) brand choice, (4) brand communities, and (5)pricing.     

Managerial decision making in customer management: adaptive, fast and frugal?

While customer management has become a top priority for practitioners and academics, little is known about how managers actually make customer management decisions. Our study addresses this gap and uses the adaptive decision maker as well as the fast and frugal heuristics frameworks to gain a better understanding of managerial decision making. Using the process-tracing tool MouselabWEB, we presented sales managers in retail banking with three typical customer management prediction tasks. The results show that a majority of managers in this study are adaptive in their decision making and that some managers use fast and frugal heuristics. Usage of adaptive decision making seems to be mainly driven by low objective task difficulty, the use of fast and frugal heuristics by experience. While adaptive decision making does not impact predictive accuracy, usage of fast and frugal heuristics is associated with proportionally greater use of high predictive quality cues and a significant increase in accuracy. Hence, the existing skepticism concerning heuristics should be questioned.     

Is it better to have loved and lost than never to have loved at all? The effect of changes in product features over time

This article examines how feature additions and removals affect consumers' preferences and the attributions they make regarding why these changes occurred. In two experiments, using a range of hypothetical and real products, we find that consumers' preferences for current product formulations are influenced by prior formulations and that changes in consumer preference are more extreme for feature removals than for feature additions. We further find that consumers attribute feature additions to causes that are more external to the firm and more stable over time than those for feature removals. Consumers' product evaluations are more negative when the cause of a feature removal is attributed more internally to the firm. However, consumers' product evaluations are not significantly affected by their attributions for feature additions. Finally, the degree to which the changing feature is linked to a brands' equity moderates these findings.