| "Buyer's remorse" is also a form of dissonance. When | | | | decisions were final and their bets were firmly in |
| we purchase a product or service, we tend to look | | | | place |
| for ways to convince ourselves that we made the | | | | Younger, Walker, and Arrowood decided to conduct |
| right decision. If the people around us or other | | | | a similar experiment at the midway of the Canadian |
| factors make us question our decision, we | | | | National Exposition. They interviewed people who had |
| experience buyer's remorse. On feeling this | | | | already placed bets on a variety of different games |
| inconsistency, we'll look for anything--facts, peer | | | | (bingo, wheel of fortune, etc.) as well as people who |
| validation, expert opinion--to reduce the dissonance in | | | | were still on their way to place bets. They asked |
| our minds concerning the purchase. Some of us even | | | | each of the people if they felt confident they were |
| use selective exposure to minimize the risk of seeing | | | | going to win. Paralleling the findings of Knox and |
| or hearing something that could cause dissonance. | | | | Inkster's study, the people who had already made |
| Often people won't even tell family or friends about | | | | their bets felt luckier and more confident than those |
| their purchase or decision because they know it will | | | | who had not yet placed their wagers. |
| create dissonance. | | | | These studies show that to reduce dissonance, we |
| Listed below are some situations that might create | | | | often simply convince ourselves that we have made |
| dissonance. | | | | the right decision. Once we place a bet or purchase a |
| * You are a strict vegetarian but you see a stylish | | | | product or service, we feel more confident with |
| leather jacket on sale and want to buy it. | | | | ourselves and the choice we've made. This concept |
| * You made a New Year's resolution to exercise | | | | also holds true in persuasion and sales. Once the |
| every day. It is now halfway through February, you | | | | payment is given for your product or service, your |
| have not yet been to the gym once. | | | | prospects will usually feel more confident with their |
| * You are on a stringent diet when you see Ben and | | | | decisions. Have them make the payment or finalize |
| Jerry's ice cream on sale at the grocery store. | | | | the choice as soon as possible! This will increase their |
| We find what we seek. If we can't find it, we make | | | | confidence in their decision and they will look for |
| it up. In politics, members of different parties will | | | | reasons to justify that decision. |
| refuse to peaceably or tolerantly listen to opposing | | | | When buying and selling shares of stock, investors |
| party commercials. Smokers won't read articles about | | | | commonly stick with stocks that have recently |
| the dangers of smoking. Drug users don't spend | | | | slumped in price, with no prospects of recovery. |
| much time at clinics. We don't want to find | | | | Rationally, the best decision is to cut their losses and |
| information that might oppose our current points of | | | | invest elsewhere. Irrationally, however, investors |
| view. | | | | often hang on, ensnared by their initial decision. |
| A study by Knox and Inkster found interesting | | | | Many times, even when we have made a bad |
| results at a racetrack. They interviewed people | | | | decision, we become so entrenched in our belief that |
| waiting in line to place a bet, and then questioned | | | | it was right that we will fight to the bitter end to |
| them again after they'd placed a bet. They found | | | | prove it. We can't handle the dissonance in our minds, |
| people were much more confident with their | | | | so we find anything to prove our decision was right. |
| decisions after they had placed their bet than before | | | | We become so embroiled in justifying our actions |
| the bet was made. They exuded greater confidence | | | | that we are willing to go down with the burning ship. |
| in their decisions and their chosen horses after their | | | | |