Department of Marketing
Strategy compatibility: The time versus money effect on product evaluation strategies
We show that time priming leads consumers to adopt an alternative-based evaluation strategy, whereas money priming elicits the use of an attribute-based evaluation strategy. In Experiment 1, we used process tracing in Mouselab to test this proposition, and the results suggested that the effect of time versus money priming on the choice of product-evaluation strategy was mediated by a holistic versus piecemeal information-processing. The results of Experiments 2A and 2B showed that the use of time versus money priming to trigger the choice of an alternative-based versus attribute-based evaluation strategy may result in systematic preference reversals. Specifically, when time (versus money) was primed, the participants were found to be more likely to choose a product dominating on a verbally described (versus numerically described) attribute (Experiment 2A), and one dominating on a non-alignable (versus alignable) attribute (Experiment 2B). © 2014 Society for Consumer Psychology.
Consumer behavior, Decision strategy, Decision-making, Time versus money effect
Source Publication Title
Journal of Consumer Psychology
Su, Lei, and Leilei Gao. "Strategy compatibility: The time versus money effect on product evaluation strategies." Journal of Consumer Psychology 24.4 (2014): 549-556.