Don't touch when you are shopping, or the new endowment effectBe careful how you reach out:
A new study suggests that just fingering an item on a store shelf can create an attachment that makes you willing to pay more for it.
Previous studies have shown that many people begin to feel ownership of an item - that it "is theirs" - before they even buy it. But this study, conducted by researchers at Ohio State University, is the first to show "mine, mine, mine" feelings can begin in as little as 30 seconds after first touching an object.
Here is the full story.
Wednesday, 21 January 2009
The Endowment Effect
Here is something from Marginal Revolution related to the last lecture on the endowment effect:
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment