Product knowledge is an important factor in consumer decision-making. It can influence how consumers
accessing the products (Rao & Monroe, 1988). Two knowledge constructs are distinguished: objective knowledge
(i.e. accurate information about the product stored in consumer’s long-term memory) and subjective knowledge (i.e.
people’s perceptions of what or how much they know about a product based on their subjective interpretation). The
level of correspondence between objective and subjective knowledge usually is not high (Park et al, 1994), with
consumers being generally overconfident about themselves (Alba & Hutchinson, 1987).