“Effort-as-Information”: the impact of decision-related effort on subsequent evaluation and price judgment
Kim, J; Kim, J
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Decision-related effort is an important factor in understanding consumers’ decision-making and consumption behavior. In this research, we examine how decision-related effort influences evaluation and price judgment (i.e., WTA or WTP) for a chosen option. Two experiments demonstrate that consumers’ evaluations and price judgments are higher for an option that requiring high effort than for an option requiring low effort with respect to two products: lottery tickets and printers. This research also shows that this result can be moderated by the time interval between a choice and a subsequent judgment.