TY - JOUR
T1 - Thinking or Feeling the Risk in Online Auctions
T2 - The Effects of Priming Auction Outcomes and the Dual System on Risk Perception and Amount Bid
AU - Steinhart, Yael
AU - Kamins, Michael A.
AU - Mazursky, David
AU - Noy, Avraham
PY - 2013/2
Y1 - 2013/2
N2 - The present research sheds new light on the antecedents and outcomes of bidders' perceived risk. It examines the role of the two-system model in the context of activating the potential to either win or lose an online auction. This study demonstrates that when a bidder's affective system is primed, concern about losing the item is greater and ultimately the bid amount is higher when the bidder expects to lose rather than win. Conversely, when the cognitive system is primed, the anticipated goals of winning the auction - rather than the fear of losing - drive the bidder's actions. In the latter case, the bidder pays a higher amount if the expectancy of winning is primed, as opposed to the expectancy of losing. A field study on eBay and two lab studies confirm this phenomenon.
AB - The present research sheds new light on the antecedents and outcomes of bidders' perceived risk. It examines the role of the two-system model in the context of activating the potential to either win or lose an online auction. This study demonstrates that when a bidder's affective system is primed, concern about losing the item is greater and ultimately the bid amount is higher when the bidder expects to lose rather than win. Conversely, when the cognitive system is primed, the anticipated goals of winning the auction - rather than the fear of losing - drive the bidder's actions. In the latter case, the bidder pays a higher amount if the expectancy of winning is primed, as opposed to the expectancy of losing. A field study on eBay and two lab studies confirm this phenomenon.
KW - Online auctions
KW - Perceived risk of losing
KW - Two-system model
UR - http://www.scopus.com/inward/record.url?scp=84871608020&partnerID=8YFLogxK
U2 - 10.1016/j.intmar.2012.09.001
DO - 10.1016/j.intmar.2012.09.001
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AN - SCOPUS:84871608020
SN - 1094-9968
VL - 27
SP - 47
EP - 61
JO - Journal of Interactive Marketing
JF - Journal of Interactive Marketing
IS - 1
ER -