Carey K. Morewedge
Boston University
Experimental psychologyFeelingConsumption (economics)Developmental psychologyAttributionEconometricsArtificial intelligencePsychologyActuarial scienceEconomicsCognitionMicroeconomicsImpact biasCognitive psychologyCognitive biasPerceptionPsychological interventionAffective forecastingHappinessDebiasingSocial psychologySocial cognition
102Publications
27H-index
3,118Citations
Publications 92
Newest
#1Haewon Yoon (IU: Indiana University)H-Index: 5
#2Yang Yang (UF: University of Florida)H-Index: 191
Last. Carey K. Morewedge (BU: Boston University)H-Index: 27
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Student loans defer the cost of college until after graduation, allowing many students access to higher lifetime earnings and colleges and universities they otherwise could not afford. Even with student loans, however, we find students psychologically realize the financial costs of a college education long before their loan repayments begin. We theorize this early cost realization frames financial decisions between most pairs of colleges as an intertemporal tradeoff. Students choose between inve...
#1Carey K. Morewedge (BU: Boston University)H-Index: 27
#1Carey K. Morewedge (BU: Boston University)H-Index: 1
Object ownership changes how people perceive objects and self through psychological ownership—the feeling that a thing is MINE. Psychological ownership usually tracks legal ownership, but the two can and do diverge. In this integrative review, I propose a dual-process model of psychological ownership. Antecedents of psychological ownership form self-object associations prompting an implicit inference of psychological ownership, which can then be accepted, corrected, or rejected by explicit judgm...
1 CitationsSource
#1Chang-Yuan Lee (BU: Boston University)
#1Chang-Yuan Lee (BU: Boston University)H-Index: 2
Last. Carey K. Morewedge (BU: Boston University)H-Index: 1
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We introduce a theoretical framework distinguishing between anchoring effects, anchoring bias, and judgmental noise: Anchoring effects require anchoring bias, but noise modulates their size. We test it by manipulating stimulus magnitudes. As magnitudes increase, psychophysical noise due to scalar variability widens the perceived range of plausible values for the stimulus. This increased noise, in turn, increases the influence of anchoring bias on judgments. In eleven preregistered experiments (N...
#1Sarah Whitley (UGA: University of Georgia)H-Index: 1
#2Ximena Garcia-Rada (Harvard University)H-Index: 6
Last. Carey K. Morewedge (BU: Boston University)H-Index: 27
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Funeral rituals perform important social functions for families and communities, but little is known about the motives of people planning funerals. Using mixed methods, we examine funeral planning as end-of-life relational spending. We identify how relational motives drive and manifest in funeral planning, even when the primary recipient of goods and services is dead. Qualitative interviews with consumers who had planned pre-COVID funerals (N=15) reveal a caring orientation drives funeral decisi...
Source
#1Romain Cadario (EUR: Erasmus University Rotterdam)H-Index: 7
#2Chiara Longoni (BU: Boston University)H-Index: 3
Last. Carey K. Morewedge (BU: Boston University)H-Index: 1
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Medical artificial intelligence is cost-effective, scalable, and often outperforms human providers. One important barrier to its adoption is the perception that algorithms are a “black box”—people do not subjectively understand how algorithms make medical decisions, and we find this impairs their utilization. We argue a second barrier is that people also overestimate their objective understanding of medical decisions made by human healthcare providers. In five pre-registered experiments with con...
Source
#1Romain Cadario (EUR: Erasmus University Rotterdam)H-Index: 7
#2Chiara Longoni (BU: Boston University)H-Index: 3
Last. Carey K. Morewedge (BU: Boston University)H-Index: 27
view all 0 authors...
Medical artificial intelligence is cost-effective, scalable, and often outperforms human providers. One important barrier to its adoption is the perception that algorithms are a “black box”—people do not subjectively understand how algorithms make medical decisions, and we find this impairs their utilization. We argue a second barrier is that people also overestimate their objective understanding of medical decisions made by human healthcare providers. In five pre-registered experiments with con...
Source
#1Haewon Yoon (IU: Indiana University)H-Index: 5
#2Irene Scopelliti (City University London)H-Index: 8
Last. Carey K. Morewedge (BU: Boston University)H-Index: 27
view all 3 authors...
Abstract Observational learning can debias judgment and decision making. One-shot observational learning-based training interventions (akin to “hot seating”) can produce reductions in cognitive biases in the laboratory (i.e., anchoring, representativeness, and social projection), and successfully teach a decision rule that increases advice taking in a weight on advice paradigm (i.e., the averaging principle). These interventions improve judgment, rule learning, and advice taking more than practi...
Source
#1Carey K. MorewedgeH-Index: 27
#2Ashwani MongaH-Index: 10
Last. Deborah A. SmallH-Index: 30
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Technological innovations are creating new products, services, and markets that satisfy enduring consumer needs. These technological innovations create value for consumers and firms in many ways, b...
6 CitationsSource
#1Eleanor Putnam-Farr (Rice University)
#2Carey K. Morewedge (BU: Boston University)H-Index: 27
We examine which social comparisons most affect happiness with pay that is unequally distributed (e.g., salaries and bonuses). We find that ensemble representation –attention to statistical properties of distributions such as their range and mean––makes the proximal extreme (i.e., the maximum or minimum) and distribution mean salient social comparison standards. Happiness with a salary or bonus is more affected by how it compares to the distribution mean and proximal extreme than by exemplar-bas...
#1Chiara LongoniH-Index: 3
#2Andrea BonezziH-Index: 8
Last. Carey K. MorewedgeH-Index: 27
view all 3 authors...