The reference dependence roots of inaction inertia: A query theory account.
Inaction inertia is the tendency to forego an opportunity after missing a significantly better opportunity. We show that inaction inertia is rooted in reference dependence. This is consistent with prior work finding that smaller discounts are devalued and inertia is motivated by avoidance of loss. W...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Public Library of Science (PLoS)
2023-01-01
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| Series: | PLoS ONE |
| Online Access: | https://doi.org/10.1371/journal.pone.0282876 |
| _version_ | 1797842981074501632 |
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| author | Ruth Pogacar Neil Brigden Emily Plant Frank R Kardes James Kellaris |
| author_facet | Ruth Pogacar Neil Brigden Emily Plant Frank R Kardes James Kellaris |
| author_sort | Ruth Pogacar |
| collection | DOAJ |
| description | Inaction inertia is the tendency to forego an opportunity after missing a significantly better opportunity. We show that inaction inertia is rooted in reference dependence. This is consistent with prior work finding that smaller discounts are devalued and inertia is motivated by avoidance of loss. We further illuminate the process by showing that consumers treat the missed discount (rather than the regular price) as a reference point relative to which a smaller discount feels like a loss. Missing a significantly better deal causes people to focus first and foremost on thoughts critical of the current deal. Notably, consumers who miss a smaller discount also construe the second deal as a loss, even if they take it. This research integrates inaction inertia and reference dependence theory using query theory analysis to contextualize inaction inertia with biases such as loss aversion, anchoring, and the default effect. |
| first_indexed | 2024-04-09T16:57:03Z |
| format | Article |
| id | doaj.art-6775ed01f04d4aa29a875c467603b6c8 |
| institution | Directory Open Access Journal |
| issn | 1932-6203 |
| language | English |
| last_indexed | 2024-04-09T16:57:03Z |
| publishDate | 2023-01-01 |
| publisher | Public Library of Science (PLoS) |
| record_format | Article |
| series | PLoS ONE |
| spelling | doaj.art-6775ed01f04d4aa29a875c467603b6c82023-04-21T05:35:32ZengPublic Library of Science (PLoS)PLoS ONE1932-62032023-01-01183e028287610.1371/journal.pone.0282876The reference dependence roots of inaction inertia: A query theory account.Ruth PogacarNeil BrigdenEmily PlantFrank R KardesJames KellarisInaction inertia is the tendency to forego an opportunity after missing a significantly better opportunity. We show that inaction inertia is rooted in reference dependence. This is consistent with prior work finding that smaller discounts are devalued and inertia is motivated by avoidance of loss. We further illuminate the process by showing that consumers treat the missed discount (rather than the regular price) as a reference point relative to which a smaller discount feels like a loss. Missing a significantly better deal causes people to focus first and foremost on thoughts critical of the current deal. Notably, consumers who miss a smaller discount also construe the second deal as a loss, even if they take it. This research integrates inaction inertia and reference dependence theory using query theory analysis to contextualize inaction inertia with biases such as loss aversion, anchoring, and the default effect.https://doi.org/10.1371/journal.pone.0282876 |
| spellingShingle | Ruth Pogacar Neil Brigden Emily Plant Frank R Kardes James Kellaris The reference dependence roots of inaction inertia: A query theory account. PLoS ONE |
| title | The reference dependence roots of inaction inertia: A query theory account. |
| title_full | The reference dependence roots of inaction inertia: A query theory account. |
| title_fullStr | The reference dependence roots of inaction inertia: A query theory account. |
| title_full_unstemmed | The reference dependence roots of inaction inertia: A query theory account. |
| title_short | The reference dependence roots of inaction inertia: A query theory account. |
| title_sort | reference dependence roots of inaction inertia a query theory account |
| url | https://doi.org/10.1371/journal.pone.0282876 |
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