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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

No abstract is available for this item.

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.
  • 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: http://www.esri.ie/pubs/BKMNEXT306.pdf
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    References listed on IDEAS

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    1. Sumit Agarwal & Souphala Chomsisengphet & Neale Mahoney & Johannes Stroebel, 2015. "Regulating Consumer Financial Products: Evidence from Credit Cards," The Quarterly Journal of Economics, Oxford University Press, vol. 130(1), pages 111-164.
    2. Kimberlee Weaver & Stephen M. Garcia & Norbert Schwarz, 2012. "The Presenter's Paradox," Journal of Consumer Research, Oxford University Press, vol. 39(3), pages 445-460.
    3. Michael Grubb, 2015. "Behavioral Consumers in Industrial Organization: An Overview," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 47(3), pages 247-258, November.
    4. Michael D. Grubb, 2015. "Behavioral Consumers in Industrial Organization," Boston College Working Papers in Economics 879, Boston College Department of Economics.
    5. Meyvis, Tom & Janiszewski, Chris, 2002. " Consumers' Beliefs about Product Benefits: The Effect of Obviously Irrelevant Product Information," Journal of Consumer Research, Oxford University Press, vol. 28(4), pages 618-635, March.
    6. S. Dellavigna., 2011. "Psychology and Economics: Evidence from the Field," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 5.
    7. Xavier Gabaix & David Laibson, 2018. "Shrouded attributes, consumer myopia and information suppression in competitive markets," Chapters,in: Handbook of Behavioral Industrial Organization, chapter 3, pages 40-74 Edward Elgar Publishing.
    8. Robert J. Shiller, 2005. "Behavioral Economics and Institutional Innovation," Southern Economic Journal, Southern Economic Association, vol. 72(2), pages 269-283, October.
    9. Michael D. Grubb, 2009. "Selling to Overconfident Consumers," American Economic Review, American Economic Association, vol. 99(5), pages 1770-1807, December.
    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.
    11. Chris M. Wilson & Catherine Waddams Price, 2010. "Do consumers switch to the best supplier?," Oxford Economic Papers, Oxford University Press, vol. 62(4), pages 647-668, October.
    12. Annamarie Lusardi & Olivia S. Mitchell, 2005. "Financial Literacy and Planning: Implications for Retirement Wellbeing," Working Papers wp108, University of Michigan, Michigan Retirement Research Center.
    13. Troutman, C Michael & Shanteau, James, 1976. " Do Consumers Evaluate Products by Adding or Averaging Attribute Information?," Journal of Consumer Research, Oxford University Press, vol. 3(2), pages 101-106, Se.
    14. Alexander Chernev, 2005. "Context Effects without a Context: Attribute Balance as a Reason for Choice," Journal of Consumer Research, Oxford University Press, vol. 32(2), pages 213-223, September.
    15. Kurt A. Carlson & Margaret G. Meloy & J. Edward Russo, 2006. "Leader-Driven Primacy: Using Attribute Order to Affect Consumer Choice," Journal of Consumer Research, Oxford University Press, vol. 32(4), pages 513-518, March.
    16. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    17. Brennan, Timothy J., 2007. "Consumer preference not to choose: Methodological and policy implications," Energy Policy, Elsevier, vol. 35(3), pages 1616-1627, March.
    18. Ericson, Keith M. Marzilli & Starc, Amanda, 2016. "How product standardization affects choice: Evidence from the Massachusetts Health Insurance Exchange," Journal of Health Economics, Elsevier, vol. 50(C), pages 71-85.
    19. Tim Burnett, 2014. "The Impact of Service Bundling on Consumer Switching Behaviour: Evidence from UK Communication Markets," The Centre for Market and Public Organisation 14/321, Department of Economics, University of Bristol, UK.
    20. John Hauser, 2011. "A marketing science perspective on recognition-based heuristics (and the fast-and-frugal paradigm)," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 6(5), pages 396-408, July.
    21. Peter D.Lunn, 2012. "Behavioural Economics and Policy making,Learning from the Early Adopters," The Economic and Social Review, Economic and Social Studies, vol. 43(3), pages 423-449.
    22. Huber, Joel & Payne, John W & Puto, Christopher, 1982. " Adding Asymmetrically Dominated Alternatives: Violations of Regularity and the Similarity Hypothesis," Journal of Consumer Research, Oxford University Press, vol. 9(1), pages 90-98, June.
    23. 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.
    24. Monica Giulietti & Catherine Waddams Price & Michael Waterson, 2005. "Consumer Choice and Competition Policy: a Study of UK Energy Markets," Economic Journal, Royal Economic Society, vol. 115(506), pages 949-968, October.
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    Citations

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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. Lunn, Pete & Bohacek, Marek & Rybicki, Alicia, 2016. "An Experimental Investigation of Personal Loan Choices," Research Series, Economic and Social Research Institute (ESRI), number BKMNEXT314.

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