Magnitude Representations Underlie Valuations of Prospects

Dan Schley, Ohio State University, USA
Ellen Peters, Ohio State University, USA
Research has demonstrated that individuals exhibit curvilinear relations between objective numbers and subjective number representations. In the current article we demonstrate that an individual’s ability to “value” money, goods, and services depends critically upon their ability to perceive differences in the numeric magnitudes of the money, goods, and services.
[ to cite ]:
Dan Schley and Ellen Peters (2013) ,"Magnitude Representations Underlie Valuations of Prospects", in NA - Advances in Consumer Research Volume 41, eds. Simona Botti and Aparna Labroo, Duluth, MN : Association for Consumer Research.