When Products Are Valued More But Sold For Less: the Impact of Waste Aversion on Disposal Behavior
Central to the study of consumer behavior are the processes of product acquisition, usage, and disposal. When disposing of a product, consumers often judge its value. In general, sellers are motivated to overestimate value in order to increase selling price and maximize profit. However, waste aversi...
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description | Central to the study of consumer behavior are the processes of product acquisition, usage, and disposal. When disposing of a product, consumers often judge its value. In general, sellers are motivated to overestimate value in order to increase selling price and maximize profit. However, waste aversion -- a motivation to fully exhaust a product's residual value -- can cause sellers to decrease their acceptable selling price despite perceptions that a product is more valuable. Three empirical studies provide converging evidence that waste aversion, by shifting consumers from a profit-maximization to a product-utilization orientation, can bias value judgments and lead to counterintuitive behaviors. |
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subjects | Consumer behavior Consumers Estimation bias Judgment Motivation Profit maximization Studies Useful life |
title | When Products Are Valued More But Sold For Less: the Impact of Waste Aversion on Disposal Behavior |
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