Marketing Seminar - Professor Tom Meyvis
Seminar Room 10.039 the Spot, Level 10, 198 Berkeley Street, Carlton 3010Map
PRESENTER: Professor Tom Meyvis (NYU Stern School of Business)
TOPIC: “Forgetting to Remember Our Experiences: People Overestimate How Much They Will Retrospect About Personal Events”
People value experiences in part because of the memories they create. Yet, we find that people systematically overestimate how much they will retrospect about their experiences. This overestimation results from people focusing on their desire to retrospect about experiences, while failing to consider the experience’s limited enduring accessibility in memory. Past experiences become less top-of-mind over time and, as a result, people simply forget to remember. In line with this account, our results show that obtaining physical reminders of an experience reduces the overestimation of retrospection by increasing how much people retrospect, bringing their realized retrospection more in line with their forecasts (and aspirations). We further observe that the extent to which reported retrospection falls short of forecasted retrospection reliably predicts declining satisfaction with an experience over time.
Tom Meyvis is Professor of Marketing and Peter Drucker Faculty Fellow at the NYU Stern School of Business. His research examines consumer behavior and decision making with a focus on the management of hedonic consumption experiences (ranging from movie watching to food consumption). He is the coordinator of Stern’s PhD program in Marketing and serves on the Editorial Review Boards of Journal of Marketing Research, Journal of Consumer Research, Journal of Consumer Psychology, and Marketing Letters. He received his Ph.D. in Marketing from the University of Florida and degrees in Sociology and Experimental Psychology from the Catholic University of Leuven, Belgium.
RSVPs are not necessary.