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Regret, disappointment and the endowment effect
Martinez, Luis F.; Zeelenberg, Marcel; Rijsman, John B. - In: Journal of Economic Psychology 32 (2011) 6, pp. 962-968
The endowment effect is the finding that minimum selling prices for a particular good exceed maximum buying prices. We build on and extend previous research showing that emotions influence the endowment effect, and reveal that the two negatively valenced decision-related emotions, regret and...
Persistent link: https://www.econbiz.de/10010573780
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Competitive strategy when consumers are affected by reference prices
Azar, Ofer H. - In: Journal of Economic Psychology 39 (2013) C, pp. 327-340
The article presents a model that analyzes the optimal strategy of multi-product firms when consumers are affected by reference prices. Generally, the stronger the consideration of reference prices is, the more intensified the competition is and the lower are the prices and profits. In some...
Persistent link: https://www.econbiz.de/10010729999
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How promotional frames affect upgrade intentions
Liu, Hsin-Hsien - In: Journal of Economic Psychology 39 (2013) C, pp. 237-248
This article explores how sales package frames (bundle vs. free gift) influence consumers’ cost assignments of target items (focal vs. supplementary) in durable product categories. The frames may influence consumers’ upgrade intentions and decisions as a result of their different perceptions...
Persistent link: https://www.econbiz.de/10010870866
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The counterintuitive effects of thank-you gifts on charitable giving
Newman, George E.; Jeremy Shen, Y. - In: Journal of Economic Psychology 33 (2012) 5, pp. 973-983
discussed within a broader theoretical framework concerning the effects of extrinsic incentives on altruistic behavior. …
Persistent link: https://www.econbiz.de/10010617614
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The influence of suggestions of reference groups in the compromise effect
Chuang, Shih-Chieh; Cheng, Yin-Hui; Hsu, Chun-Ting - In: Journal of Economic Psychology 33 (2012) 3, pp. 554-565
influence on consumer choice. However, little research has empirically investigated the link between the compromise effect and …
Persistent link: https://www.econbiz.de/10010573774
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The abstractness of luxury
Hansen, Jochim; Wänke, Michaela - In: Journal of Economic Psychology 32 (2011) 5, pp. 789-796
The purchase of luxury goods is relatively exclusive, limited, and often merely hypothetical. Thus, luxury goods may be perceived as more psychologically distant than ordinary goods. Based on the link between psychological distance and abstract mental representation, we hypothesized and found in...
Persistent link: https://www.econbiz.de/10011051332
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Product option framing under the influence of a promotion versus prevention focus
Cheng, Yin-Hui; Yen, HsiuJu Rebecca; Chuang, Shih-Chieh; … - In: Journal of Economic Psychology 39 (2013) C, pp. 402-413
to gauge their impact on consumer behaviors. This research examines how option framing could affect choice decisions as a … function of a consumer’s goal orientation. Study 1 offers convergent support for the proposition that regulatory focus … associate with a consumer’s regulatory orientation may also account for the interaction between regulatory focus and option …
Persistent link: https://www.econbiz.de/10011051338
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Preference reversal for copycat brands: Uncertainty makes imitation feel good
Van Horen, Femke; Pieters, Rik - In: Journal of Economic Psychology 37 (2013) C, pp. 54-64
-edged effect of brand similarity has implications for preference theory, consumer decision-making, and managerial practice. …
Persistent link: https://www.econbiz.de/10011051371
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How social comparison influences reference price formation in a service context
Viglia, Giampaolo; Abrate, Graziano - In: Journal of Economic Psychology 45 (2014) C, pp. 168-180
What is the influence on reference price when the source of price information is anonymous versus social? This article investigates the formation of reference prices given an observed sequence of past prices in a service context. An experimental study suggests that, considering the same price...
Persistent link: https://www.econbiz.de/10011117235
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Different strategies for evaluating consumer products: Attribute- and exemplar-based approaches compared
Scheibehenne, Benjamin; von Helversen, Bettina; … - In: Journal of Economic Psychology 46 (2015) C, pp. 39-50
consumer behavior more accurately. …, we conducted an experiment in which 64 participants repeatedly estimated the market price of different consumer products … different strategies to estimate market prices, which should influence people’s consumption behavior. The results suggest that …
Persistent link: https://www.econbiz.de/10011193965