Money: A Bias for the Whole
Abstract
We document the phenomenon of “bias for the whole,” wherein greater value is perceived for money in the form of a whole (large denomination) than for equivalent amounts of money in parts (smaller denominations), resulting in a lower inclination to spend with the whole. We demonstrate across four experiments that the bias arises from greater processing fluency experienced in processing the whole as opposed to parts. This processing fluency is...
Paper Details
Title
Money: A Bias for the Whole
Published Date
Mar 1, 2006
Journal
Volume
32
Issue
4
Pages
541 - 549
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