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We designed an experiment that examines how knowledge about the price of a good, and the time at which the information … is received, affects how the good is experienced. The good in question was wine, and the price was either high or low …. Our results suggest that hosts offering wine to guests can safely reveal the price: much is gained if the wine is …
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In this paper, based on well-established behavioral theories, we propose a new model for dynamic formation of customer’ quality expectations. The model is described by a one-dimensional non-linear discrete dynamical system which depends on several parameters with links to behavioral theories....
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