Remembering Prices: Numeric Cognition, Language, and Price Recall

Hyeong Min Kim, Baruch College
David Luna, Baruch College

Remembering Prices: Numeric Cognition, Language, and Price Recall

ABSTRACT

This paper examines how consumers process multi-prices (e.g., prices that consist of several components like $329 for a camera and $16 for delivery) from a linguistic and numeric cognition perspective. We theorize that when consumers read multi-prices, they encode the numbers phonologically. This can lead to overtaxing working memory capacity as consumers calculate the total price of the package and to less accurate price recall for multi-prices that have longer number names (e.g., number names with more syllables). We find evidence for this process in three studies, both across different languages and within languages.
[ to cite ]:
Hyeong Min Kim and David Luna (2006) ,"Remembering Prices: Numeric Cognition, Language, and Price Recall", in NA - Advances in Consumer Research Volume 33, eds. Connie Pechmann and Linda Price, Duluth, MN : Association for Consumer Research, Pages: 235-235.