89. People Might Care About Time More than They Care About Money
Say you’re out for a Sunday bike ride on your favorite path, and you come across some kids selling lemonade. Do you stop and buy lemonade? Do you like the lemonade? Does your buying or liking the lemonade have anything to do with the wording on the sign next to the lemonade stand? Apparently so.
Cassie Mogilner and Jennifer Aaker (2009) from the Stanford Graduate School of Business conducted a series of experiments to see whether references to time or references to money would affect whether people stopped to buy, how much they were willing to pay, and how satisfied they were with the products they bought. They conducted five experiments.
Spending Time Versus Spending Money
The ...
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