The power of touch: An examination of the effect of duration of physical contact on the valuation of objects
AbstractThe duration of ownership has been shown to increase the valuation of items that people currently own as well as items they have owned in the past, a phenomenon termed the ``length-of-ownership effect.'' We hypothesize that the duration of exposure to an item will foster increased pre-ownership attachment to an item and increased valuations in a manner similar to duration of actual ownership. We examine this effect in two experiments, both variations of the classic mug experiment. To induce different levels of exposure, we varied the amount of time that participants examined the auctioned item (i.e., coffee mugs) prior to participating in real dollar auctions. In the first study, participants bid in online English open bid auctions. In the second study, participants bid in first-price sealed bid auctions. In both cases of duration of physical contact positively influenced valuations (i.e., bid levels). % changed pre-factual to pre-ownership
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Society for Judgment and Decision Making in its journal Judgment and Decision Making.
Volume (Year): 3 (2008)
Issue (Month): 6 (August)
Contact details of provider:
duration-of-exposure effect; length-of-ownership effect; behavioral economics; consumer decision making.;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Akerlof, George A, 1970. "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, MIT Press, vol. 84(3), pages 488-500, August.
- Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1990. "Experimental Tests of the Endowment Effect and the Coase Theorem," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1325-48, December.
- Carmon, Ziv & Wertenbroch, Klaus & Zeelenberg, Marcel, 2003. " Option Attachment: When Deliberating Makes Choosing Feel Like Losing," Journal of Consumer Research, University of Chicago Press, vol. 30(1), pages 15-29, June.
- Strahilevitz, Michal A & Loewenstein, George, 1998. " The Effect of Ownership History on the Valuation of Objects," Journal of Consumer Research, University of Chicago Press, vol. 25(3), pages 276-89, December.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jonathan Baron).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.