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

Conjuring Creativity: The Impact of Fear

Ilgım Dara Benoit, Appalachian State University
Elizabeth Miller, University of Massachusetts, USA

Read More

Featured

Deprivation of Control and the Phonetic Appeal of Brand Names

Jamel Khenfer, Zayed University
Caroline Cuny, Grenoble Ecole de Management

Read More

Featured

People Overpredict the Benefit of Using Expensive Items and Appearing Rich in Friend-Making

Xilin Li, University of Chicago, USA
Christopher Hsee, University of Chicago, 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.