How much will you pay to have it repaired? Anchoring effect in willingness to pay for product repair.

Název česky Efekt ukotvení a ochota platit za opravu výrobku
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ĎURINÍK Michal

Rok publikování 2013
Druh Článek ve sborníku
Konference Marketing manažment, obchod a sociálne aspekry podnikania
Fakulta / Pracoviště MU

Ekonomicko-správní fakulta

Citace
www http://euke.sk/?q=100&p=2626
Obor Ekonomie
Klíčová slova anchoring; experiment; willingness to pay; product repair; need for cognition
Popis Exposing a person to certain numerical value (an anchor) shortly before they are asked to decide, has been previously shown to influence people’s willingness-to-pay decisions. This paper investigates the anchoring effect on subjects‘ willingness to pay for product repair. To compare three different anchoring strategies, an experiment with 128 participants was conducted. Additionally, this paper investigates the relationship between anchoring and subjects’ Need for Cognition score. The importance of these findings for upcoming research and business practice is discussed.
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