The Arbitrary Coherence Effect and Decision Making
DOI:
https://doi.org/10.33423/ajm.v20i1.2755Keywords:
Management, arbitrary coherence, anchoring, new product pricing, purchase intentAbstract
In Behavioral Economics, “arbitrary coherence” is when an arbitrary, randomly chosen number, influences the amount purchasers are willing to pay for a product. Arbitrary coherence is similar to anchoring which marketers sometimes use to help set optimal prices. This paper examines how the arbitrary coherence effect influences individual decision making.
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Published
2020-04-07
How to Cite
Mattei, M. D., & Hellebusch, S. J. (2020). The Arbitrary Coherence Effect and Decision Making. American Journal of Management, 20(1). https://doi.org/10.33423/ajm.v20i1.2755
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