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24-06-2017 | Original Article

The processing of price comparison is not holistic but componential

Auteurs: Pedro Macizo, Fernando Ojedo

Gepubliceerd in: Psychological Research | Uitgave 6/2018

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Abstract

In three experiments, we evaluate whether the processing of prices is holistic or componential. When participants receive two prices and they select the higher price, distance effects are found when the distances between the two prices are defined holistically but not when they are defined in terms of digits (Experiment 1). This result suggests that prices are processed holistically. However, we show that the holistic distance effect can be explained by the compatibility between the digits and the monetary category of prices (euro and cent). After controlling for the holistic distance, compatible trials (e.g., 8 euro–4 cent, 8 > 4, and euro > cent) are processed faster than incompatible trials (e.g., 8 cent–4 euro, 8 > 4 but cent < euro) with simultaneous and sequential presentation of prices (Experiment 2). Moreover, the compatibility effect is modulated by the ratio of intra monetary category comparisons (8 euro–6 euro) and inter monetary category comparisons (8 euro–4 cents) (Experiment 3). The existence of compatibility effects between the digits and the monetary category of prices suggests that cognitive processing of prices is not holistic but componential.
Voetnoten
1
We are indebted to an anonymous reviewer of a previous (unpublished) version of this paper (in which only Experiment 1 was included). The author provided this argumentation and also inspired the experiments reported here manipulating the compatibility between the digit and the monetary category of prices.
 
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Metagegevens
Titel
The processing of price comparison is not holistic but componential
Auteurs
Pedro Macizo
Fernando Ojedo
Publicatiedatum
24-06-2017
Uitgeverij
Springer Berlin Heidelberg
Gepubliceerd in
Psychological Research / Uitgave 6/2018
Print ISSN: 0340-0727
Elektronisch ISSN: 1430-2772
DOI
https://doi.org/10.1007/s00426-017-0884-4