Does suspending an English Auction increase revenues?

Zhang, Sookie Xue; Bayer, Ralph-Christopher

doi:10.1016/j.econlet.2017.10.025

Cited by 1 publication

(1 citation statement)

References 14 publications

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“…Or, over time, the product may become less desirable because initial feelings of excitement and attachment have dissipated. For example, consumers participated in an online auction in which they were likely to develop psychological ownership and feel increased value of the product through the quasi‐endowment effect (Zhang & Bayer, 2018). The researchers then suspended the bidding for half of the participants in the auction.…”

Section: The Moderating Effect Of Durationmentioning

confidence: 99%

Wish list thinking: The quasi‐endowment effect's impact on online wish lists outcomes

Groening

Wiggins

Raoofpanah

2020

J of Consumer Behaviour

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Marketing practitioners encourage retailers to incorporate online wish lists into their websites, based on the presumption of increasing future purchases. However, recent papers find that purchasing wish list products is far from guaranteed. We propose that this outcome occurs because online wish lists provide a unique liminal space between ownership and non‐ownership that enables consumers to interact with products without the need to actually purchase them. Across two studies, we find that wish lists engender psychological ownership, enabling the quasi‐endowment effect and increasing the likelihood of purchase and decreasing the likelihood of removal from the wish list. However, this relationship moderated two factors. The first is social context of whether the wish list is private or publicly viewable, which can link the products to the consumer's identity. Second is the duration an item has been on the wish list, enabling a “cooling off” period and an opportunity for vicarious consumption through continued interaction. Collectively, our findings indicate that retailers need to more strategically manage their use of online wish lists in order to maximize their potential for increased sales.

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Section: The Moderating Effect Of Durationmentioning

confidence: 99%