Neural Encoding of Wtp Computation During Simple Purchasing Decisions

An essential component of purchasing decisions is the consumer’s computation of how many financial resources they are willing to give up in exchange for a consumption object (willingness to pay). Despite its importance, little is known about how the brain makes this computation. We investigated the neural basis of WTP computations by scanning hungry subjects’ brains using fMRI while they placed real bids for the right to eat different junk food products in a commonly used auction. We found that activity in the medial orbitofrontal cortex and in the dorsolateral prefrontal cortex encodes subject’s WTP for the products.



Citation:

Hilke Plassmann, John O'Doherty, and Antonio Rangel (2008) ,"Neural Encoding of Wtp Computation During Simple Purchasing Decisions", in NA - Advances in Consumer Research Volume 35, eds. Angela Y. Lee and Dilip Soman, Duluth, MN : Association for Consumer Research, Pages: 129-132.

Authors

Hilke Plassmann, California Institute of Technology
John O'Doherty, California Institute of Technology
Antonio Rangel, California Institute of Technology



Volume

NA - Advances in Consumer Research Volume 35 | 2008



Share Proceeding

Featured papers

See More

Featured

Changing the World, One Word at a Time: The Effect of Font Size on Prosocial Intention

Rima Touré-Tillery, Northwestern University, USA
Ayelet Fishbach, University of Chicago, USA

Read More

Featured

The Impact of Price and Size Comparisons on Consumer Perception and Choice

Jun Yao, Macquarie University, Australia
Harmen Oppewal, Monash University, Australia
Yongfu He, Monash University, Australia

Read More

Featured

L13. The Recipient Effect on Consumers’ Preference for Products Displayed in Different Horizontal Locations

Sheng Bi, Washington State University, USA
Nik Nikolov, Washington State University, USA
Julio Sevilla, University of Georgia, USA

Read More

Engage with Us

Becoming an Association for Consumer Research member is simple. Membership in ACR is relatively inexpensive, but brings significant benefits to its members.