Intuitive Confidence: When Consumer Choices Are Sensitive to Matching Prices

Joseph Simmons, Yale University, USA
Leif Nelson, New York University, USA
When choosing between equated alternatives, people often choose the option that is superior on the most important, or prominent, dimension. Investigating consumer decisions, we show that this prominence effect disappears when we make people less confident in the prominent option’s superiority before equating the options on price. This occurs even when we decrease confidence by having people list too many reasons for their preference, and by presenting the options in a difficult-to-read font. Generally, people’s choices are more sensitive to willingness-to-pay responses when they are uncertain that an option is superior in quality than when they are certain.
[ to cite ]:
Joseph Simmons and Leif Nelson (2007) ,"Intuitive Confidence: When Consumer Choices Are Sensitive to Matching Prices", in NA - Advances in Consumer Research Volume 34, eds. Gavan Fitzsimons and Vicki Morwitz, Duluth, MN : Association for Consumer Research, Pages: 265-268.