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Quality cue or price anchoring: The effect of price on consumer behavior in repeat experiments

Luqing Yu et al.

Canadian Journal of Agricultural Economics / Revue Canadienne d Agroeconomie2025https://doi.org/10.1111/cjag.12385article
AJG 2ABDC A
Weight
0.50

Abstract

Price is one of the most important factors affecting consumer purchase decisions. Consumers may use price as a quality cue or reference point to make the decisions. However, few studies have considered the quality cue by controlling the price anchoring and vice versa. We conduct four identical experiments weeks apart to estimate the effect of price on consumers' product quality evaluation and WTP. The results show that (1) the price has a significant impact on appearance rating and taste rating; (2) product quality mediates the price effect on consumer WTP only if consumers have incomplete quality information about the product; and (3) the marginal effect of price on consumer WTP differs over time. The results of this study provide deep insights into the role of price on consumers' quality assessment and valuation formation of products.

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https://doi.org/https://doi.org/10.1111/cjag.12385

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@article{luqing2025,
  title        = {{Quality cue or price anchoring: The effect of price on consumer behavior in repeat experiments}},
  author       = {Luqing Yu et al.},
  journal      = {Canadian Journal of Agricultural Economics / Revue Canadienne d Agroeconomie},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1111/cjag.12385},
}

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

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