Selling the Forest, Buying the Trees
The Effect of Construal Level on Seller-Buyer Price Discrepancy
Bibliographic Data
| ID | 2223331 |
|---|---|
| Authors | Caglar Irmak (0000-0001-9793-6339, University of South Carolina), Cheryl J Wakslak (0000-0002-9748-1896, University of Southern California), Yaacov Trope (0000-0003-1448-1960, New York University) |
| Year | 2013 |
| Volume | 40 |
| Issue | 2 |
| Pages | 284-297 |
| Publication date | 2013-08-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Consumer Research (JOURNAL) |
| Journal identifiers | ISSN: 0093-5301 • E-ISSN: 1537-5277 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1086/670020 |
| OpenAlex | W2112610607 |
| Language | EN |
| Citations received | 13 |
| References cited | 40 |
Four studies demonstrate that selling and buying prices are differentially influenced by the value of products' low- and high-level construal features. The study shows that sellers construe products at a higher level than do buyers and owners. Based on this, this study predicts and demonstrates that selling prices exceed buying prices when (1) the object's primary aspects are superior and the object's secondary aspects are inferior but not vice versa, (2) individuals focus on a product's desirability-related aspects rather than the same product's feasibility-related aspects, (3) individuals are in a “why” mind-set but not when they are in a “how” mind-set, and (4) the product's desirability aspects are superior and its feasibility aspects inferior but not vice versa. Further, sellers' and buyers' differential construal mediates the difference between seller and buyer prices, which emerges when a product's value derives from high-level features but not from low-level features
Advertising · Business · Construal level theory · Differential (mechanical device) · Economics · Microeconomics · Object (grammar) · Product (mathematics) · Product category · Research Object · Set (abstract data type) · Value (mathematics) · Behavioral Health and Interventions · Computer Science · Consumer Behavior in Brand Consumption and Identification · Cultural Differences and Values · Marketing · Mathematics · Psychology · Social Psychology
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Culture and mood disorders
Money Versus Time
How a maximizing orientation affects trade‐offs between desirability and feasibility
Risk preferences in decision-making
Impact of Message Construal, Temporal Distance, and Construal Level on Potential Philanthropic Supporters' Intentions to Donate
Impact of ownership on liking and value
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Why Does Psychological Distance Influence Construal Level? The Role of Processing Mode
The Floor Is Nearer than the Sky
Why Feasibility Matters More to Gift Receivers than to Givers
The psychology of attitudes
The Boundaries of Loss Aversion
Averaging versus adding as a stimulus-combination rule in impression formation.
Construal Levels and Psychological Distance
Time-dependent gambling
Heart Strings and Purse Strings
Seeing the forest when entry is unlikely
Construal-level theory of psychological distance.
Temporal construal.
Toward a positive theory of consumer choice
Source dependence in the valuation of objects
Experimental Tests of the Endowment Effect and the Coase Theorem
Bad riddance or good rubbish? Ownership and not loss aversion causes the endowment effect
The influence of abstract and concrete mindsets on anticipating and guiding others' self-regulatory efforts
Interpersonal similarity as a social distance dimension
The effect of level of construal on the temporal distance of activity enactment
Levels of personal agency
The Endowment Effect as Self-Enhancement in Response to Threat
Temporal construal and time-dependent changes in preference
The role of feasibility and desirability considerations in near and distant future decisions
On the social nature of nonsocial perception
Why are people reluctant to exchange lottery tickets
Construal levels and self-control
How Buyers Evaluate Product Bundles
Years, Months, and Days versus 1, 12, and 365
Effects of Construal Level on the Price-Quality Relationship
Is There a Substitute for Direct Experience? Comparing Consumers' Preferences after Direct and Indirect Product Experiences
The Endowment Effect
Option Attachment
Focusing on the Forgone
| Unique citing works | 13 |
|---|---|
| Citations per year | 1 |
| Citation span | 2013 - 2025 (13) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 13 |