A Context-Dependent View of Anchoring: the Effect of Consumer Adaptation of Incidental Environmental Anchors on Willingness to Pay

Cenk Kocas, Sabanci University, Turkey
Kivilcim Dogerlioglu Demir, Sabanci University, Turkey
Taking a context dependent view, we demonstrate that though consumers are not aware of the association between incidental anchors and price of the products, not only do they base their price expectations on the numbers but also adapt the numerical values to resemble acceptable prices for a given category.
[ to cite ]:
Cenk Kocas and Kivilcim Dogerlioglu Demir (2014) ,"A Context-Dependent View of Anchoring: the Effect of Consumer Adaptation of Incidental Environmental Anchors on Willingness to Pay", in NA - Advances in Consumer Research Volume 42, eds. June Cotte and Stacy Wood, Duluth, MN : Association for Consumer Research, Pages: 294-297.