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A Taste for Bargains

Authors:
Publication Date:
Jan 2011
Project Programs:
Behavioral Economics

Do consumers have a taste for bargains? The results of marketing experiments are consistent with consumers having such a taste, but their findings are not distinguished from behavior predicted by standard models in which consumers draw inferences from price. In the present study, I propose a conceptual framework that captures the psychological intuition of how bargains affect choice, and I implement two experiments that test for a taste for bargains in the absence of informational confounds.

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