This is an insightful paper on Latin America as a development disappointment. I agree with the authors that Latin America’s performance over the last two decades, or the last five decades, or even the last century is a disappointment. However, the authors’ perspectives on this disappointment are a little open to question. First is the claim that Latin America is a unique disappointment. They ma...

In this paper we show that performance information about “forgone” alternatives (i.e., alternative that were considered but not chosen) can have a significant impact on post-choice valuation. Our approach introduces a new and parsimonious way of looking at satisfaction that combines the literature on post-choice valuation with research regarding generalized expected utility theory. While the po...

One of the negative side effects of the consumer society and the increasing number of consumer goods available to the average household is the intransparency of product quality, especially product lifetime. There are many examples on failing products and premature obsolescence. Often this phenomenon is related to companies’ profit maximization strategies (planned obsolescence) and consumer prot...