"Last-Place Aversion": Evidence and Redistributive Implications
In: NBER Working Paper No. w17234
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In: NBER Working Paper No. w17234
SSRN
In: Journal of consumer research: JCR ; an interdisciplinary journal, Band 44, Heft 5, S. 1085-1103
ISSN: 1537-5277
Abstract
Mistakes are often undesirable and frequently result in negative inferences about the person or company that made the mistake. Consequently, research suggests that information about mistakes is rarely shared with consumers. However, we find that consumers actually prefer products that were made by mistake to otherwise identical products that were made intentionally. This preference arises because consumers perceive that a product made by mistake is more improbable relative to a product made intentionally, and thus, view the product as more unique. We find converging evidence for this preference in a field study, six experiments, and eBay auction sales. Importantly, this preference holds regardless of whether the mistake enhances or detracts from the product. However, in domains where consumers do not value uniqueness (e.g., utilitarian goods), the preference is eliminated.