Replication data for: Pavlovian Processes in Consumer Choice: The Physical Presence of a Good Increases Willingness-to-Pay

Principal Investigator(s):  View help for Principal Investigator(s) Benjamin Bushong; Lindsay M. King; Colin F. Camerer; Antonio Rangel

Version:  View help for Version V1

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2008005R2_supportingmaterials_instructions.doc application/msword 39 KB 12/06/2019 10:48:AM
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Project Description

Summary:  View help for Summary This paper describes a series of laboratory experiments studying whether the form in which items are displayed at the time of decision affects the dollar value that subjects place on them. Using a Becker-DeGroot auction under three different conditions — (i) text displays, (ii) image displays, and (iii) displays of the actual items — we find that subjects' willingness-to-pay is 40-61 percent larger in the real than in the image and text displays. Furthermore, follow-up experiments suggest the presence of the real item triggers preprogrammed consummatory Pavlovian processes that promote behaviors that lead to contact with appetitive items whenever they are available. (JEL C91, D03, D12, D87)

Scope of Project

JEL Classification:  View help for JEL Classification
      C91 Design of Experiments: Laboratory, Individual
      D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
      D12 Consumer Economics: Empirical Analysis
      D87 Neuroeconomics


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V1 [2019-12-06]

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