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The discrepancy between willingness to pay (WTP) and willingness to accept (WTA) for a product, referred to as the endowment effect, has been investigated and replicated across various domains because of its implications for rational decision making. The authors assume that implicit processes...
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Do payment mechanisms change the way consumers perceive products? We argue that consumers for whom credit cards (cash) have been primed focus more on benefits (costs) when evaluating a product. In study 1, credit card (cash) primed participants made more (fewer) recall errors regarding cost...
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