Effects of Anchoring and Adjustment in the Evaluation of Product Pricing 1
Bibliographic Data
| ID | 13675246 |
|---|---|
| Authors | Eitan Elaad (0000-0002-2741-5367, corresponding author), Neta Sayag, Aliya Ezer (Ariel University) |
| Year | 2010 |
| Volume | 107 |
| Issue | 1 |
| Pages | 58-60 |
| Publication date | 2010-08-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Psychological Reports (JOURNAL) |
| Journal identifiers | ISSN: 0033-2941 • E-ISSN: 1558-691X |
| Publisher | SAGE Publishing (PUBLISHER • US) |
| DOI | 10.2466/pr0.107.1.58-60 |
| OpenAlex | W4254303743 |
| Language | EN |
Anchoring and adjustment comprise a heuristic that creates expectations. Two types of anchors were applied on participants' evaluation of products: the price reference of the product (maximum, minimum, or no price reference) and the context in which the products were evaluated (the prestige of the shopping center). Results showed that both factors anchored evaluations of products' value. Context effects were explained by the different expectations of visitors in prestigious (looking for quality) and less prestigious (seeking a bargain) centers
Advertising · Anchoring · Business · Context (archaeology · Economics · Heuristic · Microeconomics · Prestige · Product (mathematics · Quality (philosophy · Reference price · Statistics · Value (mathematics · Customer Service Quality and Loyalty · Marketing · Mathematics · Psychology · Social Psychology
| Citation velocity | historical |
|---|---|
| Highly cited | No |