Small Change: the Subjective Valuation of Coins and Bills
It would not be surprising to learn that coins are valued less than bills, given that coins are nearly always of a lower denomination than bills. But is there also a subjective bias at work here? This behaviour is demonstrated in two studies and explained by the representativeness bias.
Eric Dolansky (2011) ,"Small Change: the Subjective Valuation of Coins and Bills", in NA - Advances in Consumer Research Volume 39, eds. Rohini Ahluwalia, Tanya L. Chartrand, and Rebecca K. Ratner, Duluth, MN : Association for Consumer Research, Pages: 499.
Eric Dolansky, Brock University, Canada
NA - Advances in Consumer Research Volume 39 | 2011
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