Is that Deal Worth my Time? The Interactive Effect of Relative and Referent Thinking on Willingness to Seek a Bargain

Prior research on relative thinking has suggested that the willingness to seek a bargain depends not only on the absolute value of the bargain but also on the price of the product. For example, a discount of 10 seems more appealing on a product whose regular price is 0 than a product whose regular price is $60. By invoking the interactive role of consumers’ reference prices, the authors delineate the specific conditions under which the same...