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X-WR-CALDESC:Events for CREST
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TZID:Europe/Helsinki
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TZOFFSETFROM:+0200
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DTSTART:20190331T010000
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DTSTART:20191027T010000
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DTSTART;TZID=Europe/Helsinki:20190925T001500
DTEND;TZID=Europe/Helsinki:20190925T133000
DTSTAMP:20260713T040654
CREATED:20190826T115749Z
LAST-MODIFIED:20190826T115749Z
UID:12301-1569370500-1569418200@crest.science
SUMMARY:Mattia Nardotto (KU Leuven) - "Price norms and consumption behavior"
DESCRIPTION:CREST Microeconomics Seminar : \nTime: 12:15 pm – 1:30pm\nDate: 25th Sep. 2019\nPlace: Room 3001.\nMattia Nardotto (Science Po) – “Price norms and consumption behavior” \nabstract: “In this this paper we examine the role of memory and attention in consumer behavior.  We experimentally vary prices of 30 familiar consumption goods over 8 months across more than 500 stores of a large retailer.  We find that individual price histories shape purchasing decisions by generating price norms that anchor choices. Consumers then under-react to small price changes relative to the norm\, but over-react to large changes. Consistent with the role of recall of historical prices\, we find that purchases are less price-sensitive when historical prices are more volatile. Our findings underscore the importance of attention and selective recall of past experiences in shaping decisions\, and are relevant to understanding pricing decisions by firms.” \nOrganizers: \n\nRoxana Fernandez Machado (CREST)\, Marie Laure Allain (CREST)\, and Linda Schilling (CREST)\nSponsors:\nCREST\nLunch registration:\nfood provided\, no registration needed\n\n  \n
URL:https://crest.science/event/mattia-nardotto-ku-leuven-price-norms-and-consumption-behavior/
LOCATION:3001
CATEGORIES:Microeconomics
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