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| Author: | Forlani, D. Walker, O.C. Jr. |
| Title: | Valenced attributions and risk in new-product decisions: How why indicates what's next |
| Journal: | Psychology & Marketing
2003 : MAY, VOL. 20:5, p. 395-432 |
| Index terms: | Product development New products Marketing Managers Risk Behavioural science Decision making Theories |
| Language: | eng |
| Abstract: | This article poses the question of how, and to what extent, prior outcomes influence a marketing manager's future new product selection (choice) to support decisions. The study's hypotheses are developed by integrating the motivational qualities of Weiner's attribution theory with the behavioural predictions of four popular risk perspectives: prospect theory, the hot-hand effect, the competency hypothesis, and risk as hazard. The research question is reflected in two sets of hypotheses that experimentally examine the relationship btw. valenced attributions, and changes in the riskiness of managers' new product introduction decisions. Three-way interactions are found that support the study's attribution-based framework and address predictive differences among the four risk perspectives. Implications for the theories examined and the management of the new product development process are discussed. |
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