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The Role of Inference in Context Effects: Inferring What You Want from What Is Available

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Author Info
Prelec, Drazen
Wernerfelt, Birger
Zettelmeyer, Florian

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Abstract

It has recently been suggested that a number of experimental findings of context effects in choice settings can be explained by the ability of subjects to draw choice-relevant inferences from the stimuli. We aim to measure the importance of this explanation. To do so, inferences are assessed in an experiment using the basic context-effect design, supplemented by direct measures of inferred locations of available products on the price-quality Hotelling line. We use these measures to estimate a predicted context effect due to inference alone. For our stimuli, we find that the inference effect accounts for two-thirds of the average magnitude of the context effect and for about one-half of the cross-category context-effect variance. Copyright 1997 by the University of Chicago.

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Publisher Info
Article provided by University of Chicago Press in its journal Journal of Consumer Research.

Volume (Year): 24 (1997)
Issue (Month): 1 (June)
Pages: 118-25
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Handle: RePEc:ucp:jconrs:v:24:y:1997:i:1:p:118-25

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