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Automatic Construction and Use of Contextual Information for Product and Price Evaluations

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  • Adaval, Rashmi
  • Monroe, Kent B
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    Abstract

    The context in which a product is seen influences the internal standard that consumers use to judge both this and other products. Two experiments showed that a product was judged as less expensive in a high-priced context than in a low-priced context even though the product's actual price was recalled as higher in the first condition than in the second. This effect of the initial context carried over to a new product encountered 48 hours later and also influenced price estimates of products from other categories. Additional experiments demonstrated that the standard that people use to evaluate products can be influenced by exposure to high and low stimulus values that are below participants' perceptual thresholds. Thus, the effects of internal standards on product judgments can occur without an awareness of the conditions that led to the construction of this standard. Copyright 2002 by the University of Chicago.

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    Bibliographic Info

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

    Volume (Year): 28 (2002)
    Issue (Month): 4 (March)
    Pages: 572-88

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    Handle: RePEc:ucp:jconrs:v:28:y:2002:i:4:p:572-88

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    Web page: http://www.journals.uchicago.edu/JCR/

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    Cited by:
    1. Wedad Elmaghraby & Anandasivam Gopal & Ali Pilehvar, 2012. "Reference Prices and Bidder Heterogeneity in Secondary Market Online B2B Auctions," Working Papers 12-06, NET Institute, revised Sep 2012.
    2. Mochon, Daniel & Frederick, Shane, 2013. "Anchoring in sequential judgments," Organizational Behavior and Human Decision Processes, Elsevier, vol. 122(1), pages 69-79.
    3. Pechtl, Hans, 2004. "Das Preiswissen von Konsumenten: eine theoretisch-konzeptionelle Analyse," Wirtschaftswissenschaftliche Diskussionspapiere 01/2004, Ernst Moritz Arndt University of Greifswald, Faculty of Law and Economics.
    4. Greg Fischer & Dean Karlan & Margaret McConnell & Pia Raffler, 2014. "To Charge or Not to Charge: Evidence from a Health Products Experiment in Uganda," Working Papers 1041, Economic Growth Center, Yale University.
    5. Smart, Michael J., 2014. "A volatile relationship: The effect of changing gasoline prices on public support for mass transit," Transportation Research Part A: Policy and Practice, Elsevier, vol. 61(C), pages 178-185.
    6. Greg Fischer & Dean Karlan & Margaret McConnell & Pia Raffler, 2014. "To Charge or Not to Charge: Evidence from a Health Products Experiment in Uganda," NBER Working Papers 20170, National Bureau of Economic Research, Inc.

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