Payment depreciation: the behavioral effects of temporally separating payments from consumption

Article Abstract:

Consumers mentally acknowledge and reconcile the benefits versus the cost of items at the time of committment. Once the investment in time, money of effort has been made the consumer will generally purchase the product even if though benefits do not outweigh the costs. In prepayment types of transactions, the consumer will increase his interest in the product or service nearest the time of payment.

Psychological aspects, Research, Consumers

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The duration heuristic

Article Abstract:

The duration heuristic simplifies the service evaluation process because it makes consumers evaluate services based on their duration. Four experiments and a field study testing the use of the duration heuristic are described. The use of this heuristic leads to reasonably accurate evaluations in many cases.

Singapore, Service Industries, Usage, Evaluation, Measurement, Services industry, Customer satisfaction, Heuristic, Heuristics (Psychology), Report

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On the perceived value of money: the reference dependence of currency numerosity effects

Article Abstract:

The importance given by consumers to face value of money during fiscal transactions is discussed. The methods to be applied to find out anchoring effects on money valuations are also presented.

Europe, Consumer Behavior, Analysis, Currency devaluation, Devaluation (Currency), Consumer behaviour, Nominalism, Cash transactions

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