Small Change: the Subjective Valuation of Coins and Bills

Eric Dolansky, Brock University, Canada
It would not be surprising to learn that coins are valued less than bills, given that coins are nearly always of a lower denomination than bills. But is there also a subjective bias at work here? This behaviour is demonstrated in two studies and explained by the representativeness bias.
[ to cite ]:
Eric Dolansky (2011) ,"Small Change: the Subjective Valuation of Coins and Bills", in NA - Advances in Consumer Research Volume 39, eds. Rohini Ahluwalia, Tanya L. Chartrand, and Rebecca K. Ratner, Duluth, MN : Association for Consumer Research, Pages: 499.