According to a study published this month in the Journal of Consumer Research , consumers shouldn't be so quick to let online user ratings guide their purchase decisions. Indeed, the study suggests that the belief that online user ratings, which virtually all retails provide on their websites, are good markers of product quality is largely an illusion. For the study, researchers investigated user ratings for over 1,200 products across 120 product categories, from blood pressure monitors and bike helmets to air filters. Their analyses reveal a very low correlation between average user ratings of items on Amazon.com and product ratings, based on objective tests, found in consumer reports. Further, the likelihood that an item with a higher user rating performs objectively better than an item with a lower user rating is only 57 percent, which casts some doubt on the validity of user ratings. The study also examined what information consumers rely on when judging the quality of ...

Have you been yearning to buy a new Mercedes for years?  Maybe you’ve thought about stopping by your local Macy’s store on the way home from work and snagging that posh Michael Kors watch you spotted there last month.  Or, you’ve contemplated replacing a dingy pair of sneakers ensconced in your closet with a new set of Sketchers you instantly became smitten with after seeing them in a newspaper ad.  According to psychologists, this zeal to acquire products is only ephemeral, as consumers derive more pleasure from desiring them than they do from actually owning them. Human beings are known to long for the unobtainable – whether it’s an old flame who got away after high school or a snazzy smartphone that’s a bit out of our price range. Once the object is ours, that seemingly unshakable sense of yearning and excitement that we felt earlier dissipates, and it does not resurface until we set our sights on a new object of desire. If you think about it, this makes complete sen...