In four studies in which consumers assembled IKEA boxes, folded origami, and built sets of Legos, we demonstrate and investigate...
We propose that buying- and selling-price estimates reflect a focus on what the consumer forgoes in the potential exchange and...
The duration of ownership has been shown to increase the valuation of items that people currently own as well as...
In studies involving genuine transactions of potentially high value we show that willingness-to-pay can be increased when customers are instructed...
Four experiments and one study were conducted to test the hypothesis that stimuli associated with spending can elicit spending responses....
Do payment mechanisms change the way consumers perceive products? We argue that consumers for whom credit cards (cash) have been...
When agents are ascribed selfish motives, economic theory points to grave inefficiencies resulting from externalities. We study a restaurant setting...
This article described three heuristics that are employed in making judgements under uncertainty: (i) representativeness, which is usually employed when...
Mental accounting posits that people track their expenditures using cognitive categories or “mental accounts.” The authors propose that this cognitive...
Mental accounts are often characterized as self‐control devices that consumers employ to prevent excess spending and consumption. However, under certain...