Access the full text.
Sign up today, get DeepDyve free for 14 days.
Colin Camerer, Martin Weber (1992)
Recent developments in modeling preferences: Uncertainty and ambiguityJournal of Risk and Uncertainty, 5
D. Ellsberg (1961)
Decision, probability, and utility: Risk, ambiguity, and the Savage axioms
V. Greco, D. Roger (2001)
Coping with uncertainty: the construction and validation of a new measurePersonality and Individual Differences, 31
P. Simpson, Judy Siguaw, J. Cadogan (2008)
Understanding the consumer propensity to observeEuropean Journal of Marketing, 42
Mitch Griffin, Barry Babin, Jill Attaway (1996)
Anticipation of injurious consumption outcomes and its impact on consumer attributions of blameJournal of the Academy of Marketing Science, 24
Desmond Lam (2007)
Cultural Influence on Proneness to Brand LoyaltyJournal of International Consumer Marketing, 19
Johannes Rank, Victoria Pace, M. Frese (2004)
Three Avenues for Future Research on Creativity, Innovation, and InitiativeApplied Psychology, 53
J. Payne, D. Laughhunn, Roy Crum (1984)
Multiattribute Risky Choice Behavior: The Editing of Complex ProspectsManagement Science, 30
Shu Li, Chang-Jiang Liu (2008)
Individual differences in a switch from risk‐averse preferences for gains to risk‐seeking preferences for losses: can personality variables predict the risk preferences?Journal of Risk Research, 11
N. Ndubisi, N. Malhotra, Dilber Ulaş, Gibson Ndubisi (2012)
Examining Uncertainty Avoidance, Relationship Quality, and Customer Loyalty in Two CulturesJournal of International Consumer Marketing, 24
Craig Fox, A. Tversky (1995)
Ambiguity Aversion and Comparative IgnoranceQuarterly Journal of Economics, 110
Eli Garcia, KENNETH YANG (2006)
Consumer Responses to Sexual Appeals in Cross-Cultural AdvertisementsJournal of International Consumer Marketing, 19
J. Hollenbeck, Daniel Ilgen, Jean Phillips, Jennifer Hedlund (1994)
Decision risk in dynamic two-stage contexts: Beyond the status quo.Journal of Applied Psychology, 79
G. Hofstede (1985)
THE INTERACTION BETWEEN NATIONAL AND ORGANIZATIONAL VALUE SYSTEMS[1]Journal of Management Studies, 22
V. Quintal, J. Lee, G. Soutar (2010)
Tourists' information search: the differential impact of risk and uncertainty avoidance.International Journal of Tourism Research, 12
A. Porcelli, M. Delgado (2009)
Acute Stress Modulates Risk Taking in Financial Decision MakingPsychological Science, 20
Piyush Sharma (2010)
Measuring personal cultural orientations: scale development and validationJournal of the Academy of Marketing Science, 38
Susan Tai, Ricky Chan (2001)
Cross‐cultural studies on the information content of service advertisingJournal of Services Marketing, 15
S. Mousavi, G. Gigerenzer (2014)
Risk, Uncertainty, and Heuristics
Michael Clugston, J. Howell, P. Dorfman (2000)
Does Cultural Socialization Predict Multiple Bases and Foci of CommitmentJournal of Management, 26
Kristopher Preacher, A. Hayes (2008)
Asymptotic and resampling strategies for assessing and comparing indirect effects in multiple mediator modelsBehavior Research Methods, 40
Nancy Albers-Miller, B. Gelb (1996)
Business Advertising Appeals as a Mirror of Cultural Dimensions: A Study of Eleven CountriesJournal of Advertising, 25
T. Bock, P. Kenhove (2010)
Consumer Ethics: The Role of Self-Regulatory FocusJournal of Business Ethics, 97
I. Yaveroglu, Naveen Donthu (2002)
Cultural Influences on the Diffusion of New ProductsJournal of International Consumer Marketing, 14
M. Mori, Julián Díaz, A. Ziobrowski, Nico Rottke (2010)
Psychological and Cultural Factors in the Choice of Mortgage Products: A Behavioral InvestigationJournal of Behavioral Finance, 11
Jared Ladbury, Verlin Hinsz (2009)
Uncertainty Avoidance Influences Choices for Potential Gains but not LossesCurrent Psychology, 28
R. Thaler, Eric Johnson (1990)
Gambling with the house money and trying to break even: the effects of prior outcomes on risky choiceManagement Science, 36
G. Hofstede (2001)
Culture′s Consequences: Comparing Values, Behaviors, Institutions and Organizations Across Nations
N. Barberis (2009)
A Model of Casino GamblingBehavioral & Experimental Finance eJournal
R. Deschepper, L. Grigoryan, C. Lundborg, G. Hofstede, Joachim Cohen, G. Kelen, L. Deliens, F. Haaijer-Ruskamp (2008)
Are cultural dimensions relevant for explaining cross-national differences in antibiotic use in Europe?BMC Health Services Research, 8
D. Kahneman, A. Tversky (1979)
Prospect theory: An analysis of decision under risk Econometrica 47
J. Steenkamp, F. Hofstede, M. Wedel (1999)
A CROSS -NATIONAL INVESTIGATION INTO THE INDIVIDUAL AND NATIONAL CULTURAL ANTECEDENTS OF CONSUMER INNOVATIVENESSJournal of Marketing, 63
G. Hofstede, G. Hofstede, M. Minkov (1991)
Cultures and Organizations: Software of the Mind
Naveen Donthu, David Gilliland (1996)
The infomercial shopperJournal of Advertising Research, 36
A. Tversky, D. Kahneman (1981)
The framing of decisions and the psychology of choice.Science, 211 4481
B. Kahn, R. Meyer (1991)
Consumer Multiattribute Judgments under Attribute-Weight UncertaintyJournal of Consumer Research, 17
B. Yoo, Naveen Donthu (2002)
The Effects of Marketing Education and Individual Cultural Values on Marketing Ethics of StudentsJournal of Marketing Education, 24
J. Linde, Joep Sonnemans (2009)
Social comparison and risky choicesJournal of Risk and Uncertainty, 44
Tory Higgins (1997)
Beyond pleasure and pain.The American psychologist, 52 12
J. Hershey, P. Schoemaker (1980)
Prospect theory's reflection hypothesis: A critical examinationOrganizational Behavior and Human Performance, 25
R. Pollay (2012)
Measuring the Cultural Values Manifest in AdvertisingCurrent Issues and Research in Advertising, 6
E. Higgins (1998)
Promotion and Prevention: Regulatory Focus as A Motivational PrincipleAdvances in Experimental Social Psychology, 30
Purpose – The paper aims to investigate the role of uncertainty avoidance (UA) as a moderator of Prospect Theory’s reflection effect (i.e. the simultaneous choice of a sure gain and a risky loss). We expect that higher-UA consumers, seeking certainty, will shun risk across both gains and losses such that their choices will be inconsistent with the reflection effect. Design/methodology/approach – We report three studies in which participants choose between risk and certainty. We use the stimuli from the original Prospect Theory paper, measure UA using an individual-level scale and conduct controlled experimental (laboratory) studies. Findings – We show that, compared to lower-UA consumers, higher-UA consumers demonstrate the reflection effect less frequently in a variety of settings (small/large stakes and within/between subjects comparisons). Mediation tests reveal that higher-UA consumers anchor on the sure loss and stay with their choice because they prefer the certainty of the sure (smaller) loss to the possibility of a possible (larger) loss (a dual-mediation mechanism). Research limitations/implications – The results have important implications for marketing practice. They show that quantifying uncertainty into a probability number is not enough to eliminate the uncertainty of the situation, and that UA is likely serve as a boundary condition to many of the traditional heuristics of judgment and decision-making. Originality/value – This is the first paper to demonstrate that UA can moderate the reflection effect (using the stimuli in the original Prospect Theory paper). Therefore, it sets an agenda for future researchers who may want to use these findings to calibrate price/uncertainty tradeoffs within higher-UA segments.
Journal of Consumer Marketing – Emerald Publishing
Published: Aug 5, 2014
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.