A systematic self-observation study of consumers' conceptions of practical wisdom in everyday purchase events

Mick D.G., Spiller, S.A., & Baglioni, A.J. (2012). A systematic self-observation study of consumers' conceptions of practical wisdom in everyday purchase events. Journal of Business Research Volume 65, Issue 7, July 2012, Pages 1051–1059.

Abstract: This project introduces the method of Systematic Self-Observation (SSO) to business researchers, compares it to other modes of introspection, and illustrates its application in a study of consumers' conceptions of their practical wisdom (or lack thereof) during ongoing purchase events. Qualitative data analysis is combined with hierarchical linear modeling analyses. Results are discussed in terms of how this application extends the SSO method as well as consumer behavior and wisdom theories. Discussion also addresses opportunities for future use of SSO.

Excerpt: Economists and decision researchers have largely ignored the moral aspects of consumer choice, and together they have also steered away from introspection as a research technique, despite often relying on analyses of their own behaviors as springboards to new research questions or theoretical claims. Hence, practical wisdom and Systematic Self-Observation seem to each have intriguing advantages for future economic and consumer research. Topics can include studying consumer's awareness and coping strategies for well-known decision biases such as time-inconsistent preferences and overconfidence (see Thaler and Sunstein's, 2008 review of these biases). Another important topic for future research, and well-suited for introspection, is word-of-mouth recommendations (WOM) about products and brands. Studying WOM could benefit from combining SSO with Interactive Introspection in which a group of friends who share WOM advice could record their ongoing related experiences. Insights could include why, when, with whom, and how WOM is experienced, particularly in relation to giving or withholding WOM, receiving or rejecting WOM, and so forth. In sum, introspection is a historically rich research paradigm that has several different forms waiting to be more fully mined by business researchers across disciplines.

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(Something interesting I found)Posted:Jul 01 2012, 12:00 AM by brendah
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