Behavioral economics has demonstrated systematic decision-making biases in both lab and field data. But are these biases learned or innate? We investigate this question using experiments on a novel set of subjects - capuchin monkeys. By introducing a fiat currency and trade to a capuchin colony,...

Behavioral economics has demonstrated systematic decision-making biases in both lab and field data. But are these biases learned or innate? We investigate this question using experiments on a novel set of subjects — capuchin monkeys. By introducing a fiat currency and trade to a capuchin...

Some food items that are commonly considered unhealthy also tend to elicit impulsive responses. The pain of paying in cash can curb impulsive urges to purchase such unhealthy food products. Credit card payments, in contrast, are relatively painless and weaken impulse control. Consequently,...

Consumers often benefit from increased competition in differentiated product settings during leisure shopping season. The wide choice, atmosphere, convenience, sales people, refreshments, location, promotional activities and merchandising policy are associated during the leisure shopping. The...

Monetary gifts in the form of a gift card can lead one to spend and conceive of these funds differently than if the gift is given as cash. Across four experiments, the presentation of a gift card rather than cash led to both intended and actual spending beyond the amount of the original gift,...

Although it is still controversial, neuromarketing remains the most promising area of marketing. Basically, the goal of neuromarketing is to study how human brain is affected by marketing stimuli. In neuromarketing, brain activity can be monitored and measured using state-of-the-art neuroimaging...

DeVoe and House (2012; Experiment 3) demonstrated that the process of thinking about one's income in relation to time (i.e., as an hourly wage) affected the enjoyment that participants derived from pleasurable experiences. Participants compelled to think of “time is money” experienced more...

Market prices are well known to efficiently collect and aggregate diverse information regarding the economic value of goods, services, and firms, particularly when trading financial securities. We propose a novel application of the price discovery mechanism in the context of marketing research:...

Marketers often base decisions about marketing strategies on the results of research designed to elicit information about consumers' preferences. A large body of research indicates, however, that preferences often are labile. That is, preferences can be reversed depending on factors such as how...

Economists, psychologists, and marketing researchers rely on measures of consumers' willingness to pay (WTP) in estimating demand for private and public goods and in designing optimal price schedules. Existing market research techniques for measuring WTP differ in whether they provide an...