Relative thinking in consumer choice between differentiated goods and services and its implications for business strategy
Azar, Judgment and Decision Making 6(2), 2011, 176-185. 415 university students, four scenarios (laptop, grocery shop, bicycle, flight) each with low and high price versions, high three times low. Quality difference valued more when the good cost more in all four; mean valuation ratios 3.25, 2.67, 3.26, 2.19. Full relative thinking for laptop, groceries and bicycle; partial for the flight.
Azar, Judgment and Decision Making 6(2), 2011, 176-185. 415 university students, four scenarios (laptop, grocery shop, bicycle, flight) each with low and high price versions, high three times low. Quality difference valued more when the good cost more in all four; mean valuation ratios 3.25, 2.67, 3.26, 2.19. Full relative thinking for laptop, groceries and bicycle; partial for the flight.
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Azar, O. H. (2011). Relative thinking in consumer choice between differentiated goods and services and its implications for business strategy. Judgment and Decision Making, 6(2), 176-185. doi:10.1017/s1930297500004125 https://doi.org/10.1017/s1930297500004125