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Studies on consumer knowledge calibration have used different measures of calibration. The purpose of this paper is to undertake a comparative assessment of important measures. In addition, it seeks to identify the best performing measure.

The paper reports on three studies. The first study uses eight survey data sets. The second and third studies use experiments.

The study found that the Brier score component measure is most responsive to feedback and is the most suitable measure of knowledge calibration. The results also indicate that researchers should use measures that use item-level confidence judgements, as against an overall confidence judgement.

By documenting the relationship between the different measures of knowledge calibration, the study enables proper interpretation and accumulation of results of various studies that have used different measures. The study also provides guidance to researchers in psychology and education where this issue has been noted.

The study provides guidance to managers in knowledge intensive industries, such as finance and insurance, interested in understanding their consumers’ knowledge calibration.

This is the first study in consumer research that examines this issue.

This paper aims to introduce knowledge discrimination to consumer research. It also examines the antecedent effects of objective knowledge and confidence in knowledge on consumer knowledge discrimination. Research in psychology has sought to distinguish between calibration and discrimination, two related skills in probabilistic judgments. Though consumer research has sought to examine knowledge calibration, the construct of knowledge discrimination has not attracted any attention.

The paper reports on three studies which use a cross-sectional design using a structured questionnaire. The hypotheses are tested using regression. In addition, the paper also reports the results of an experimental study.

The paper finds that the objective knowledge has a positive effect on discrimination. But confidence in knowledge does not have a consistent effect on discrimination. The paper also finds that feedback improves discrimination.

The study adds a new dimension to the examination of metaknowledge and metacognitions in the consumer domain.

The study suggests some ways in which companies/government agencies can improve consumer knowledge discrimination.

Knowledge discrimination is expected to reduce consumer vulnerability and enhance consumer competence.

This is the first study to examine knowledge discrimination in the consumer domain. Prior research has observed that there could be a trade-off between calibration and discrimination. Hence, the study of knowledge discrimination can inform the study of knowledge calibration.

This article aims to explore the so-called illusion of explanatory depth (IOED) of managers regarding their understanding of digital technologies and examines the effect of knowledge visualization one’s current understanding and decision making. Its purpose is to show that managers think they know more than they do and that this affects decision making but can be reduced through knowledge visualization.

In two experiments with experienced managers, the authors investigate the size and impact of the IOED bias in decision making and examine if sketched self-explanations are as effective as written self-explanations to reduce the bias.

The findings show that experienced managers suffer from a significant illusion concerning their explanatory understanding of digital technologies and that sketching one’s current level of explanatory understanding of these technologies supports the accurate calibration of one’s knowledge. The findings indicate that sketching knowledge is a helpful modality for the detection and subsequent recalibration of biased knowledge in domain-dependent decision making.

This article is the first to explore the effect of sketched knowledge externalization on the calibration of explanatory knowledge of managers. It extends the literature on both, the IOED and on knowledge visualization as an instrument of knowledge calibration.

There is growing evidence that managers perceive the general environment inaccurately, but very few studies have looked at the accuracy of specific strategic issue probability estimates, and at whether or not managers are aware of the accuracy or inaccuracy of their perceptions, something referred to as knowledge miscalibration. I explore perceptual inaccuracy and knowledge miscalibration in the form of overconfidence, in the context of demographic ageing, an issue currently affecting the tourism and hospitality industry. Using data from a survey of hotel managers, I find a high prevalence of perceptual error and evidence of a relatively large minority of respondents displaying knowledge overconfidence. Furthermore, I find a link between accurate environmental perceptions and strategic issue importance, suggesting that managers are better at accurately perceiving an issue when it is strategically important for their business. The same link does not exist with overconfidence, lending support to scholars arguing that overconfidence may be a trait, rather than being question-specific.

The purpose of this study is to critically review consumer knowledge in marketing and propose a future research agenda. Despite the many works that have examined this variable, given its strong influence on behaviour, it has generally been studied in association with other constructs, and no studies have focused on it in a specific way. Its definition, measurement and approaches to its role and usefulness are superficial and underdeveloped. After structuring and analysing the existing literature, the authors establish, (I) which aspects are of little use to the discipline, and (II) which research lines have the most potential and should be developed and studied in greater depth, to advance and complete the existing consumer knowledge framework.

A search was undertaken for documents in the main databases in which the term “consumer knowledge” appears in a marketing or consumer context, and a critical and reflexive approach was taken to analyse the main contributions and to structure them by content blocks.

Five main content blocks were identified. A set of research gaps were detected, mainly related to the lax conceptualisation of the topic, measurement problems and the scarcity of more useful works connected with business management, and several research lines are proposed that complement the existing framework to make it more complete and operational.

This paper offers a critical review and proposes a research agenda for one of the most used but little studied variables in the field of marketing, which may help academics and professionals in the discipline to continue developing useful theories and models.

El objetivo de este trabajo es revisar críticamente el conocimiento del consumidor en marketing y proponer una agenda de investigación futura. A pesar de los numerosos trabajos que han examinado esta variable, dada su fuerte influencia en el comportamiento, generalmente se ha estudiado en asociación con otros constructos, y ningún estudio se ha centrado en ella de manera específica. Su definición, medición y aproximaciones sobre su papel y utilidad son superficiales y poco desarrollados. Después de estructurar y analizar la literatura existente, establecemos (I) qué aspectos tienen poco uso para la disciplina y (II) qué líneas de investigación tienen más potencial y deben ser desarrolladas y estudiadas con mayor profundidad; para avanzar y completar el marco existente sobre conocimiento del consumidor.

Se realizó una búsqueda de documentos en las principales bases de datos en las que aparece el término “conocimiento del consumidor” en un contexto de marketing o consumo, y se adoptó un enfoque crítico y reflexivo para analizar las principales contribuciones y estructurarlas por bloques de contenido.

Se identificaron cinco bloques principales de contenido. Se detectó un conjunto de huecos de investigación, principalmente relacionados con la laxa conceptualización del tema, problemas de medición y la escasez de trabajos más útiles conectados con la gestión empresarial; y se proponen varias líneas de investigación que complementan el marco existente para hacerlo más completo y operativo.

Este documento ofrece una revisión crítica y propone una agenda de investigación para una de las variables más utilizadas pero poco estudiadas en el campo del marketing, lo que puede ayudar a académicos y profesionales en la disciplina a continuar desarrollando teorías y modelos útiles.

本文旨在对市场营销中的消费者知识进行批判性审视, 并提出未来的研究议程。虽然已有许多研究检验了该变量, 但由于其对行为产生强大影响, 通常会与其他结构变量一起研究, 而没有以特定方式专注于该变量。对其定义、测量以及其作用和用途的方法仍旧存在研究空白。通过对现有文献进行结构化分析后, 确定了以下两个方面：（I）哪些方面对该学科意义不大, （II）哪些研究方向最具研究潜力, 并且应该进一步深入发展和研究, 以推进和完善现有的消费者知识框架。

通过主要数据库检索市场营销或消费者背景下涉及“消费者知识”一词的文献, 采取批判性和反思性方法来分析其主要贡献, 并通过内容块对其进行结构化。

识别了五个主要内容块, 并发现存在一定程度的研究空白, 主要涉及该主题的概念松散化、测量问题以及与商业管理相关的有效研究的稀缺性。此外, 本文提出了几个研究线索, 这些线索为现有框架补充了信息, 使其更加完整且具备更强的操作性。

本文对市场营销领域中广泛使用但研究较少的变量进行了批判性评述, 并提出了相关研究议程。这一工作有助于学术界和专业人士继续发展实用的理论和模型。

This paper aims to develop a conceptual model that examines the role of an individual’s confidence in the transferred knowledge in realizing benefits from such transfers. In so doing, the paper attempts to address the gap in the knowledge transfer (KT) literature pertaining to the inability of recipients to gain benefits from incoming transferred knowledge.

The conceptual model has been developed by drawing from the literature on socio-cognitive approaches by using psychological variables (individual-level differences in need for closure, regulatory focus and self-efficacy) and contextual factors that include the perceived novelty of knowledge and positive feedback from social interactions, which influence confidence in incoming knowledge.

The conceptual model builds on the socio-cognitive perspective and explores some of the important issues that could contribute to the individual’s adeptness (or lack thereof) in deriving benefits from transferred knowledge, thus addressing a vital gap in strategy and management literature.

The paper introduces the concept of confidence in knowledge to the KT literature, which could lend valuable insights pertaining to deriving benefits from transferred knowledge. In addition, by highlighting the role of important individual-specific constructs in determining the ability to gain benefits from KT, the paper makes a significant contribution to the stream of research on the micro-foundational bases of strategy. Finally, exploring perceived novelty as a knowledge attribute in this paper adds an interesting perspective to the individuals’ perception of the target knowledge quality and the resulting confidence in the incoming knowledge, which could in turn be moderated by individual differences.

The purpose of this paper is to measure overconfidence amongst finance professionals in domain relevant knowledge, and test for the impact of different debiasing methods.

The approach used was survey field experiments with varying debiasing attempts.

The subjects were overconfident in terms of probability calibration, better‐than‐average beliefs, and unfounded confidence. Debiasing attempts yielded mixed results. Explicit written warnings reduced better‐than‐average‐type of overconfidence. There was a further strong effect from attending lectures on investor psychology covering relevant examples. In contrast, there was only limited success in reducing miscalibration in probability assessments.

Different types of overconfidence are distinct and respond differentially to debiasing. Future research on debiasing professional judgment should concentrate on testing in‐depth/personally engaging methods.

It is important for bankers to acknowledge the dangers of overconfidence. Correct confidence interval calibration is needed in order to have a sense of the risks involved in different asset allocation policies and trading strategies. Bankers should also be able to help their clients avoid overconfidence.

Debiasing overconfidence in the finance industry likely carries public benefits. The results imply that this task is not easy, but not impossible either. The authors think further investment in this endeavor is justified.

Documenting an important judgment bias among finance professionals and estimating the effects of debiasing.

This study aims to develop a new general framework of the challenges for decision making in groups. Unlike most research focused on individual consumption, this study takes a broader perspective on joint consumption.

The conceptual framework and the developed research questions are based on an extensive literature review.

This research identifies five major challenges for group decisions: allocation of responsibilities, preference prediction, preference aggregation, conflicts and mutual influences. For each challenge, this study summarizes existing findings and highlights important areas for continued investigation, related to a marketing-oriented understanding of consumers. This article concludes with implications for both managers and researchers.

The identified key determinants of group decisions aggregate findings from multidisciplinary literature and can help marketing researchers and managers understand the relevant but underresearched issues of decision making in groups. Furthermore, this study includes relevant moderators, such as individual and group characteristics, and reveals problematic research gaps. In turn, it offers questions and ideas for additional research.

This paper aims to investigate the impact of gift-givers’ perception of relational closeness on their gift-selection attitude and eventual selection when the gift is not a requested-gift.

A conceptual framework was constructed on the basis of five hypotheses, which were tested by field data collected through surveys of urban Indian gift-givers while they shopped for a gift. Logistic regressions were used for validating hypotheses. Mediation effect was computed using the PROCESS macro in SPSS.

The giver may have either a “recipient-centric” or a “giver-centric” attitude towards gift-selection. It was found that givers who feel greater closeness towards recipients are less likely to be “giver-centric” and more likely to believe that the recipient’s preferences are similar to their own. The givers’ belief that the recipient’s preferences are similar to their own mediates the effect of closeness on attitude. Closeness reduces the odds of making a “preference-contrary” selection among “recipient-centric” givers because of a perceived similarity of preferences.

The study was conducted among urban Indian gift-shoppers. Cross-cultural study may be required for general interpretation of the results. In addition, the role of reciprocity in determining giver’s attitude and gift-selection was not studied.

The study found that the odds of making “preference-contrary” gift-selection depend on the closeness of the dyadic relation. This understanding can be used in advertising and promoting products that are used as gifts between close relations.

Previous studies postulated and demonstrated that relational closeness affects gift-giving behaviour, but none connected closeness to gift-selection. This research conceptualised gift-giver’s attitude, which influences giver’s selection.