The role of price primacy in the decision-making process
Abstract/Contents
- Abstract
- Price is a key factor in any consumer marketplace decision, but exposure to price information can take place at different stages of a transaction. In this dissertation, I examine the effects of early attention to price, or price primacy on the decision making process at the neural and behavioral level. In these experiments, the price of an item was shown to individuals before or after the item itself was revealed. Using functional magnetic resonance imaging (fMRI) I demonstrated that price primacy appears to alter the process by which price and product information are integrated to determine an item's value. The data supported a framework in which viewing products first caused them to be evaluated in accordance with the question "how much do I like this product?" In contrast, when viewing prices first, the evaluation process seemed to reflect the question "how much is this product worth?" Behavioral experiments were used to validate this theory as well as the specific predictions made by the patterns of neural activation found in the imaging task related to purchasing different product categories, such as hedonic or utilitarian items. In particular, I demonstrate that in the domain of bargains, by focusing individuals on monetary worth, price primacy can act to increase purchasing rates of utilitarian products.
Description
| Type of resource | text |
|---|---|
| Form | electronic; electronic resource; remote |
| Extent | 1 online resource. |
| Publication date | 2011 |
| Issuance | monographic |
| Language | English |
Creators/Contributors
| Associated with | Karmarkar, Uma Reeta |
|---|---|
| Associated with | Stanford University, Graduate School of Business. |
| Primary advisor | Shiv, Baba, 1960- |
| Thesis advisor | Shiv, Baba, 1960- |
| Thesis advisor | Khan, Uzma Aslam |
| Thesis advisor | Simonson, Itamar |
| Advisor | Khan, Uzma Aslam |
| Advisor | Simonson, Itamar |
Subjects
| Genre | Theses |
|---|
Bibliographic information
| Statement of responsibility | Uma R. Karmarkar. |
|---|---|
| Note | Submitted to the Graduate School of Business. |
| Thesis | Ph.D. Stanford University 2011 |
| Location | electronic resource |
Access conditions
- Copyright
- © 2011 by Uma Reeta Karmarkar
- License
- This work is licensed under a Creative Commons Attribution Non Commercial 3.0 Unported license (CC BY-NC).
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