Reassurance in Information Acquisition

To be effective, marketers need insights into the motivational bases of information acquisition. Conventionally, information acquisition is motivated by its instrumental value—the value that consumers derive from adapting their choices in view of new knowledge. In this paper, in contrast, we investigate individual preferences that anticipate elation and disappointment—the emotional responses to good and bad news. Our key finding is that a consumer faced with a (large enough) potential loss of low probability may seek non-instrumental information for the purpose of reassurance. We provide empirical support for this effect and its practical implications, across seven studies (N=3,430) involving exam results disclosure, compound lottery choices, online virtual product trials, COVID-19 testing, and the post-purchase monitoring of technology updates and promotional discounts. Our findings suggest that marketers who want to stimulate consumers to engage with information in the post-purchase phase can play on consumers’ need for reassurance by paradoxically reinforcing their confidence in their choices and sense of commitment.