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  4. It’s about the process, not the result: An fMRI approach to explore the encoding of explicit and implicit price information
 
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It’s about the process, not the result: An fMRI approach to explore the encoding of explicit and implicit price information

Journal
Journal of Economic Psychology
ISSN
0167-4870
Type
journal article
Date Issued
2021-06-05
Author(s)
Linzmajer, Marc  
Hubert, Mirja
Hubert, Marc
Abstract (De)
This research examines the neurophysiological correlates of consumers’ price memory processes. We focus on the explicit and implicit dimensions of consumers’ price knowledge and use an experimental functional Magnetic Resonance Imaging (fMRI) study to assess how the encoding of task-dependent price memory affects the choice process and neural activation. The findings of our study add to the field of consumer neuroscience by demonstrating how neural correlates of explicit and implicit task-dependent price memory can shed light on processes that guide consumer decision-making. Over the course of our experiment we found that consumers did not always make consistent decisions, but that their decisions were influenced by explicit components of price memory. Implicit price memory components seem to have a more supportive role in the decision-making process. In summary, we found that price memory is a dynamic construct that is influenced by unconscious and neurophysiological processes, and we conclude that a neurophysiological perspective can add value for consumer and marketing research.
Language
English
HSG Classification
contribution to scientific community
Refereed
Yes
Publisher
Elsevier
Volume
86
Number
2021
Start page
1
End page
20
Pages
20
Official URL
https://www.sciencedirect.com/science/article/pii/S0167487021000404
URL
https://www.alexandria.unisg.ch/handle/20.500.14171/110337
Subject(s)

economics

social sciences

business studies

Division(s)

IRM - Institute of Re...

Eprints ID
263463
File(s)
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open.access

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Size

3.8 MB

Format

Adobe PDF

Checksum (MD5)

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