Consumers Overestimate Others’ Willingness to Pay and Wait For Goods: New Findings and Insights Concerning the “X-Effect” Bias

Frederick (2012) demonstrated that consumers systematically overestimate others’ willingness-to-pay (WTP) for things, and suggested this “X-effect” bias may be limited to WTP judgments. We show, however, that the X-effect also emerges for willingness-to-wait (WTW) judgments. We also show that it cannot be explained by self-other differences in opportunity cost neglect.



Citation:

Christopher Olivola and John Han (2017) ,"Consumers Overestimate Others’ Willingness to Pay and Wait For Goods: New Findings and Insights Concerning the “X-Effect” Bias", in NA - Advances in Consumer Research Volume 45, eds. Ayelet Gneezy, Vladas Griskevicius, and Patti Williams, Duluth, MN : Association for Consumer Research, Pages: 281-285.

Authors

Christopher Olivola, Carnegie Mellon University, USA
John Han, Carnegie Mellon University, USA



Volume

NA - Advances in Consumer Research Volume 45 | 2017



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