A Cross-Cultural Study of Price Search Decisions

Suppakron Pattaratanakun, University of Cambridge, UK
Vincent Mak, University of Cambridge, UK
Most previous experiments found that consumers searched less than optimally. We point out that subjects in those studies were largely from Western cultural backgrounds; Eastern subjects, with their higher sensitivity to sunk costs, could search more than optimally, in contrast to Westerners. Two experiments support our hypotheses with process evidence.
[ to cite ]:
Suppakron Pattaratanakun and Vincent Mak (2013) ,"A Cross-Cultural Study of Price Search Decisions", in NA - Advances in Consumer Research Volume 41, eds. Simona Botti and Aparna Labroo, Duluth, MN : Association for Consumer Research.