When $5 Is Not $5: Search Strategies and Relative Thinking About Money
We show that the numeric magnitude of prices in a choice set increases the choice of the more expensive, greater operating-benefits option over the less expensive, smaller operating-benefits option. Further, those who search in a manner that facilitates price comparisons are more susceptible to this contextual influence on choice.
Citation:
Byung Cheol Lee, Crystal Reeck, and Eric J Johnson (2019) ,"When $5 Is Not $5: Search Strategies and Relative Thinking About Money", in NA - Advances in Consumer Research Volume 47, eds. Rajesh Bagchi, Lauren Block, and Leonard Lee, Duluth, MN : Association for Consumer Research, Pages: 281-285.
Authors
Byung Cheol Lee, Columbia University, USA
Crystal Reeck, Temple University, USA
Eric J Johnson, Columbia University, USA
Volume
NA - Advances in Consumer Research Volume 47 | 2019
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