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PRICE Lab: An Investigation of Consumers’ Capabilities with Complex Products

Author

Listed:
  • Lunn, Pete
  • Bohacek, Marek
  • Somerville, Jason
  • Ni Choisdealbha, Aine
  • McGowan, Feidhlim

Abstract

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Suggested Citation

  • Lunn, Pete & Bohacek, Marek & Somerville, Jason & Ni Choisdealbha, Aine & McGowan, Feidhlim, 2016. "PRICE Lab: An Investigation of Consumers’ Capabilities with Complex Products," Research Series, Economic and Social Research Institute (ESRI), number BKMNEXT306, June.
    • Handle: RePEc:esr:resser:bkmnext306
    Note: Published by the Central Bank of Ireland, Commission for Communications Regulation, Commission for Energy Regulation, Competition and Consumer Protection Commission, ESRI
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    File URL: https://www.esri.ie/pubs/BKMNEXT306.pdf
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    References listed on IDEAS

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    5. Meyvis, Tom & Janiszewski, Chris, 2002. "Consumers' Beliefs about Product Benefits: The Effect of Obviously Irrelevant Product Information," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 28(4), pages 618-635, March.
    6. Stefano DellaVigna, 2009. "Psychology and Economics: Evidence from the Field," Journal of Economic Literature, American Economic Association, vol. 47(2), pages 315-372, June.
    7. Xavier Gabaix & David Laibson, 2018. "Shrouded attributes, consumer myopia and information suppression in competitive markets," Chapters, in: Victor J. Tremblay & Elizabeth Schroeder & Carol Horton Tremblay (ed.), Handbook of Behavioral Industrial Organization, chapter 3, pages 40-74, Edward Elgar Publishing.
    8. Robert J. Shiller, 2005. "Behavioral Economics and Institutional Innovation," Cowles Foundation Discussion Papers 1499, Cowles Foundation for Research in Economics, Yale University.
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    10. James J. Choi & David Laibson & Brigitte C. Madrian, 2010. "Why Does the Law of One Price Fail? An Experiment on Index Mutual Funds," Review of Financial Studies, Society for Financial Studies, vol. 23(4), pages 1405-1432, April.
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    12. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    13. Troutman, C Michael & Shanteau, James, 1976. "Do Consumers Evaluate Products by Adding or Averaging Attribute Information?," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 3(2), pages 101-106, Se.
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    15. Annamarie Lusardi & Olivia S. Mitchell, 2005. "Financial Literacy and Planning: Implications for Retirement Wellbeing," Working Papers wp108, University of Michigan, Michigan Retirement Research Center.
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    24. Brad M. Barber & Terrance Odean & Lu Zheng, 2005. "Out of Sight, Out of Mind: The Effects of Expenses on Mutual Fund Flows," The Journal of Business, University of Chicago Press, vol. 78(6), pages 2095-2120, November.
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    Cited by:

    1. Peter D. Lunn & Marek Bohacek, 2017. "Price transparency in residential electricity: Experiments for regulatory policy," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 1(2), pages 31-37, September.
    2. Griffin, Míde & Lyons, Sean & Mohan, Gretta & Joseph, Merin & Domhnaill, Ciarán Mac & Evans, John, 2022. "Intra-operator mobile plan switching: Evidence from linked survey and billing microdata," Telecommunications Policy, Elsevier, vol. 46(7).
    3. Lunn, Pete & Bohacek, Marek & Rybicki, Alicia, 2016. "An Experimental Investigation of Personal Loan Choices," Research Series, Economic and Social Research Institute (ESRI), number BKMNEXT314, June.

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