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Disconfirming Expectations: Incorrect Imprecise (vs. Precise) Estimates Increase Source Trustworthiness and Consumer Loyalty
Author(s) -
PenaMarin Jorge,
Wu Ruomeng
Publication year - 2019
Publication title -
journal of consumer psychology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.433
H-Index - 110
eISSN - 1532-7663
pISSN - 1057-7408
DOI - 10.1002/jcpy.1117
Subject(s) - trustworthiness , loyalty , value (mathematics) , computer science , work (physics) , information source (mathematics) , psychology , data source , econometrics , social psychology , statistics , data mining , machine learning , mathematics , marketing , mechanical engineering , engineering , business
Estimations that include numerical information are ubiquitous in our daily lives, for example, housing prices, calories, etc. In the present work, we investigate how the type of information used in an estimate, particularly its level of imprecision, influences evaluations of source trustworthiness after the target value of the estimate is revealed. Specifically, building upon prior work suggesting that (a) imprecise estimates are perceived to be less accurate than precise estimates and (b) performing below expectations results in negative source evaluations, we hypothesize that if the estimate is revealed to be incorrect, imprecise estimates (i.e., 400) elicit higher source trustworthiness than precise estimates (i.e., 417), even if the imprecise estimate is objectively more incorrect (i.e., target value: 570). In addition, we find that this effect also influences consumers’ loyalty toward the source of the estimate. Four studies and a single‐paper meta‐analysis offer triangulating evidence for this prediction and its underlying psychological mechanism. Overall, this work contributes to research on estimates, source evaluations, numerical information, and the influence of errors on consumer behavior.