Les Cahiers de Recherche - HEC Paris
Consumers' immediate memory for prices
(), Gilles LAURENT
() and Xavier DREZE
Abstract: In this article, the authors examine the cognitive
mechanics involved in keeping prices in short-terme memory for subsequent
recall. Consumers code and store prices verbally, visually, and in terms of
their magnitude. The encoding used influences immediate recall performance.
The memorability of prices depends on their verbal length, usualness and
overall magnitude. They find that the performance of consumers recall
prices better than what previous digit span studies with simple numbers
Keywords: consumer behavior; numerical cognition; price memory; (follow links to similar papers)
JEL-Codes: D10; (follow links to similar papers)
42 pages, January 1, 2005
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