A Context-Dependent View of Anchoring: The Effect of Consumer Adaptation of Incidental Environmental Anchors on Willingness to Pay

Dogerlioglu-Demir, Kivilcim; Ko├žas, Cenk
January 2014
Advances in Consumer Research;2014, Vol. 42, p294
Conference Proceeding
The article discusses a study that examined the effect of random numbers in marketing communications on the willingness of consumers to pay. Topics discussed include the context-dependent view of anchoring, the differential effect of incidental environmental anchors on the willingness to pay of consumers as a function of the product category, and the consumers' awareness of the link between the numbers and the price of the product. The ability of the consumers to alter and adapt the anchors to fit them into appropriate value range is mentioned.


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