Why do we overestimate others' willingness to pay?
People typically overestimate how much others are prepared to pay for consumer goods and services. We investigated the extent to which latent beliefs about others’ affluence contribute to this overestimation. In Studies 1, 2a, and 2b we found that participants, on average, judge the other people tak...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Cambridge University Press
2016-01-01
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| Series: | Judgment and Decision Making |
| Subjects: | |
| Online Access: | http://journal.sjdm.org/15/15909/jdm15909.pdf |