K.U.Leuven - Faculty of Economics and Applied Economics
DTEW - MO_0614 pages:1-10
Many buying decisions require predictions of another person's product attitudes. Yet, consumers are often inaccurate predictors, even for familiar others. We provide strong evidence that target familiarity can even hurt accuracy in the presence of attitude feedback. Although overprojection and lack of product-specific attitude information have been identified as possible reasons for prediction in accuracy, our results suggest a retrieval explanation. When presented with product-specific attitude feedback, predictors adapted their level of projection and encoded the attitude information, but they did not use this information. Instead, they retrieved less diagnostic, pre-stored information about the familiar target stop redict their product attitudes.