Knowledge calibration: What consumers know and what they think they know

Citation
Jw. Alba et Jw. Hutchinson, Knowledge calibration: What consumers know and what they think they know, J CONSUM R, 27(2), 2000, pp. 123-156
Citations number
322
Language
INGLESE
art.tipo
Review
Categorie Soggetti
Economics
Journal title
JOURNAL OF CONSUMER RESEARCH
ISSN journal
0093-5301 → ACNP
Volume
27
Issue
2
Year of publication
2000
Pages
123 - 156
Database
ISI
SICI code
0093-5301(200009)27:2<123:KCWCKA>2.0.ZU;2-M
Abstract
Consumer knowledge is seldom complete or errorless. Therefore, the self-ass essed validity of knowledge and consequent knowledge calibration (i.e., the correspondence between self-assessed and actual validity) is an important issue for the study of consumer decision making. In this article we describ e methods and models used in calibration research. We then review a wide va riety of empirical results indicating that high levels of calibration are a chieved rarely, moderate levels that include some degree of systematic bias are the norm, and confidence and accuracy are sometimes completely uncorre lated. Finally, we examine the explanations of miscalibration and offer sug gestions for future research.