Mental accounting and changes in price: the frame dependence of reference dependence

Article Abstract:

Mental accounting principles for multiple events were replicated and then extended to pricing situations that were designed to moderate these principles if reference dependence is proportional (i.e., if consumers evaluate events in terms of proportional deviations from reference states rather than raw deviations). Prices were stated with or without popular percentage-based pricing frames such as "33% off." Mental accounting principles generally prevailed in the absence of percentage-based frames. However, percentage-based frames altered two principles and increased tendencies toward the others. The findings demonstrate that mental accounting principles, price perception, and reference dependence are sensitive to the ways in which deviations from reference states are framed. (Reprinted by permission of the publisher.)

Accounting, Pricing

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The cognitive processing of misleading advertising in young and old adults: assessment and training

Article Abstract:

Three experiments evaluated the impact of misleading advertising on old and young adult consumers in terms of: (a) susceptibility to misleading advertising techniques, (b) ability to discriminate between nonmisleading and potentially misleading advertising claims, and (c) responsiveness to training. Although there were no differences when subjects responded from memory (Experiment 1), young adults were less susceptible to misleading techniques when advertisements were available during assessment (Experiment 2). Finally, training reduced susceptibility in both groups, although it also reduced discrimination in the young adults (Experiment 3). These findings were discussed in terms of potential age-related cognitive and cohort differences. (Reprinted by permission of the publisher.)

Analysis, Demographic aspects, Fraud, Cognition, Advertising research, Age groups, False advertising

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How consumers are affected by the framing of attribute information before and after consuming the product

Article Abstract:

Consumers rated several qualitative attributes of ground beef that framed the beef as either "75% lean" or "25% fat." The consumers' evaluations were more favorable toward the beef labeled "75% lean" than that labeled "25% fat." More importantly, the magnitude of this information framing effect lessened when consumers actually tasted the meat. We discuss these results in terms of an averaging model, which suggests that a diagnostic product experience dilutes the impact of information framing. (Reprinted by permission of the publisher.)

Consumer behavior, Product differentiation

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