Buying, bidding, playing, or competing? Value assessment and decision dynamics in online auctions
Ariely and Simonson, Journal of Consumer Psychology 13(1-2), 2003, 113-123. Framework for bidding in online auctions covering stages, value signals and how early choices shape later ones. Preliminary field studies suggest consumers under-search in narrow contexts and overpay for widely available goods such as CDs and DVDs, and that high starting prices raise winning bids mainly when comparable items are not readily available.
Ariely and Simonson, Journal of Consumer Psychology 13(1-2), 2003, 113-123. Framework for bidding in online auctions covering stages, value signals and how early choices shape later ones. Preliminary field studies suggest consumers under-search in narrow contexts and overpay for widely available goods such as CDs and DVDs, and that high starting prices raise winning bids mainly when comparable items are not readily available.
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Ariely, D., & Simonson, I. (2003). Buying, bidding, playing, or competing? Value assessment and decision dynamics in online auctions. Journal of Consumer Psychology, 13(1-2), 113-123. doi:10.1207/s15327663jcp13-1&2_10 https://doi.org/10.1207/s15327663jcp13-1&2_10