EFFECTS OF ANCHORING AND ADJUSTMENT IN THE EVALUATION OF PRODUCT PRICING1


    loading  Checking for direct PDF access through Ovid

Abstract

Summary.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.

    loading  Loading Related Articles