The anticipated regret of a lost opportunity: When adding a second‐period incentive reduces the appeal of a one‐period promotion
研究发现，当第二期激励的收益相对有限时，两期促销（如今天减20元加下月减5元）的吸引力反而低于仅有一期激励的促销（如今天减20元），因为消费者预期自己不太可能使用第二期激励。
Abstract Economic theory assumes that an improvement in the financial benefit of a promotional offer should increase the appeal of the offer (e.g., $25 incentive >$20 incentive). Four studies show that this assumption does not always hold. A two‐period promotion (e.g., $20 off a purchase today plus $5 off a purchase made next month) is valued less than a one‐period promotion (e.g., $20 off a purchase today), with an identical first‐period incentive, when the second‐period incentive has a limited benefit relative to the first‐period incentive. Second‐period incentives negatively impact the perceived value of a two‐period promotion when consumers anticipate a low likelihood of redeeming the second‐period incentive. The negative impact of the second‐period incentive can be remedied by making the second‐period incentive financially larger or by reducing the perceived restrictiveness of redeeming the second‐period incentive.