Anchoring in willingness-to-pay decisions: An experimental comparison of two research approaches

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F15%3A00086929" target="_blank" >RIV/00216224:14560/15:00086929 - isvavai.cz</a>

Výsledek na webu

<a href="http://dx.doi.org/10.7327/cerei.2015.12.01" target="_blank" >http://dx.doi.org/10.7327/cerei.2015.12.01</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.7327/cerei.2015.12.01" target="_blank" >10.7327/cerei.2015.12.01</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Anchoring in willingness-to-pay decisions: An experimental comparison of two research approaches

Popis výsledku v původním jazyce

Businesses can increase customers? willingness to pay by simply displaying multi-digit numbers, utilizing the anchoring effect. This paper compares two methodological approaches to test for the anchoring effect experimentally: a hypothetical one (subjects answering what-if questions) and a real situation (subjects making decisions involving their own real money). Although previous studies have examined anchoring in each of these settings separately, no direct comparison is available to date. In this paper, we conduct an experiment to compare anchoring in a hypothetical and a real-purchase setting. As hypothesized, the anchoring effect is more prevalent in the hypothetical than in the real-purchase condition. This produces some concerns regarding the suitability of the methods used to examine the anchoring effect.

Název v anglickém jazyce

Anchoring in willingness-to-pay decisions: An experimental comparison of two research approaches

Popis výsledku anglicky

Businesses can increase customers? willingness to pay by simply displaying multi-digit numbers, utilizing the anchoring effect. This paper compares two methodological approaches to test for the anchoring effect experimentally: a hypothetical one (subjects answering what-if questions) and a real situation (subjects making decisions involving their own real money). Although previous studies have examined anchoring in each of these settings separately, no direct comparison is available to date. In this paper, we conduct an experiment to compare anchoring in a hypothetical and a real-purchase setting. As hypothesized, the anchoring effect is more prevalent in the hypothetical than in the real-purchase condition. This produces some concerns regarding the suitability of the methods used to examine the anchoring effect.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

—

Návaznosti

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Rok uplatnění

2015

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Ekonomická revue

ISSN

1212-3951

e-ISSN

—

Svazek periodika

18

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

6

Strana od-do

147-152

Kód UT WoS článku

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EID výsledku v databázi Scopus

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