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@article{1338565, author = {Ďuriník, Michal}, article_number = {4}, doi = {http://dx.doi.org/10.7327/cerei.2015.12.01}, keywords = {Anchoring; experiment; methodology; willingness to pay}, language = {eng}, issn = {1212-3951}, journal = {Ekonomická revue}, title = {Anchoring in willingness-to-pay decisions: An experimental comparison of two research approaches}, url = {http://www.ekf.vsb.cz/export/sites/ekf/cerei/cs/cisla/vol18num4/dokumenty/VOL18NUM04PAP01_1.pdf}, volume = {18}, year = {2015} }
TY - JOUR ID - 1338565 AU - Ďuriník, Michal PY - 2015 TI - Anchoring in willingness-to-pay decisions: An experimental comparison of two research approaches JF - Ekonomická revue VL - 18 IS - 4 SP - 147-152 EP - 147-152 PB - Vysoká škola báňská-Technická univerzita Ostrava SN - 12123951 KW - Anchoring KW - experiment KW - methodology KW - willingness to pay UR - http://www.ekf.vsb.cz/export/sites/ekf/cerei/cs/cisla/vol18num4/dokumenty/VOL18NUM04PAP01_1.pdf N2 - Businesses can increase customers’ willingness to pay by simply displaying multi-digit numbers, utilizing the anchoring effect. This paper compares two methodological approaches to test for the anchoring effect experimentally: a hypothetical one (subjects answering what-if questions) and a real situation (subjects making decisions involving their own real money). Although previous studies have examined anchoring in each of these settings separately, no direct comparison is available to date. In this paper, we conduct an experiment to compare anchoring in a hypothetical and a real-purchase setting. As hypothesized, the anchoring effect is more prevalent in the hypothetical than in the real-purchase condition. This produces some concerns regarding the suitability of the methods used to examine the anchoring effect. ER -
ĎURINÍK, Michal. Anchoring in willingness-to-pay decisions: An experimental comparison of two research approaches. \textit{Ekonomická revue}. Vysoká škola báňská-Technická univerzita Ostrava, 2015, roč.~18, č.~4, s.~147-152. ISSN~1212-3951. Dostupné z: https://dx.doi.org/10.7327/cerei.2015.12.01.
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