Monday, February 18, 2008

The difficulty in conducting pricing research

The table above comes from the following study, done by Laurence Ashworth, Peter R. Darke and Mark Schaller:

Link to paper here

It shows the impact of the type of observer has on a person's display of attitudes towards spending money. Research resondents frequently exhibit similar behavior. While some more impersonal methods of research -- automated phone surveys, for instance -- may minimize this tendency, it remains a significant factor to be adjusted for once survey results have been

The root cause may the innate importance that status display has in defining our relationships and attractiveness to others.

How is the best way to account and adjust for this tendency?

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