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



Share Proceeding

Featured papers

See More

Featured

I5. Take That Mirror Away From me! Clothing Consumption by the Elderly and the Self-identity of the Young

Daniela Ferreira, Federal University of Rio de Janeiro

Read More

Featured

O11. Have Less, Compromise Less: How the perception of resource scarcity influences compromise decisions

Kate Kooi, University of Miami, USA
Caglar Irmak, University of Miami, USA

Read More

Featured

Consumer Reluctance Toward Medical Artificial Intelligence: The Underlying Role of Uniqueness Neglect

Chiara Longoni, Boston University, USA
Andrea Bonezzi, New York University, USA
Carey K. Morewedge, Boston University, 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.