Leveraging the Numerosity Effect to Influence Perceived Expensiveness of Virtual Items
Published Online:13 Oct 2020https://doi.org/10.1287/isre.2020.0955
References
- (2001) Sometimes it just feels right: The differential weighting of affect-consistent and affect-inconsistent product information. J. Consumer Res. 28(1):1–17.Crossref, Google Scholar
- (2015) Virtual currency concept: Its implementation, impacts and legislation. Proc. 2015 Sci. Inform. Conf. (SAI) (IEEE, Piscataway, NJ), 175–183.Google Scholar
- (2011) An odyssey into virtual worlds: Exploring the impacts of technological and spatial environments on intention to purchase virtual products. MIS Quart. 35(3):789–810.Crossref, Google Scholar
- (2013) Social Psychology (Pearson,London).Google Scholar
- (2012) $29 for 70 items or 70 items for $29? How presentation order affects package perceptions. J. Consumer Res. 39(1):62–73.Crossref, Google Scholar
- (2016) The role of numerosity in judgments and decision-making. Current Opinion Psych. (10):89–93.Crossref, Google Scholar
- (2011) Illusionary progress in loyalty programs: Magnitudes, reward distances, and step-size ambiguity. J. Consumer Res. 37(5):888–901.Crossref, Google Scholar
- (2013) Blazing trails: A new way forward for virtual currencies and money laundering. J. Virtual Worlds Res. 6(3):1–14.Crossref, Google Scholar
- (1998) Ordering of the numerosities 1 to 9 by monkeys. Science 282(5389):746–749.Crossref, Google Scholar
- (2015) Virtual currency, tangible return: Portfolio diversification with bitcoin. J. Asset Management 16(6):365–373.Crossref, Google Scholar
- (2019) Cryptocurrencies as a financial asset: A systematic analysis. Internat. Rev. Financial Anal. 62:182–199.Crossref, Google Scholar
- (2012) Immediate small number perception: Evidence from a new numerical carry-over procedure. J. Experiment. Psych. Human Perception Performance 38(1):18.Crossref, Google Scholar
- (2015) Gamification in education: A systematic mapping study. J. Ed. Tech. Soc. 18(3):75–88.Google Scholar
- (2002) The World of Goods (Routledge, London).Crossref, Google Scholar
- (1987) Preferences for proxy attributes. Management Sci. 33(2):198–214.Link, Google Scholar
- (2014) The Money Illusion (Simon and Schuster, New York).Google Scholar
- (2013) Social Cognition: From Brains to Culture (Sage, Los Angeles).Crossref, Google Scholar
- (2006) Euro illusion or the reverse? Effects of currency and income on evaluations of prices of consumer products. J. Econom. Psych. 27(4):531–542.Crossref, Google Scholar
- (1998) Pennies-a-day: The effect of temporal reframing on transaction evaluation. J. Consumer Res. 24(4):395–408.Crossref, Google Scholar
- (1990) Biological signals as handicaps. J. Theoret. Biol. 144(4):517–546.Crossref, Google Scholar
- (2011) When do people rely on affective and cognitive feelings in judgment? A review. Personality Soc. Psych. Rev. 15(2):107–141.Crossref, Google Scholar
- (2007) Blatant benevolence and conspicuous consumption: When romantic motives elicit strategic costly signals. J. Personality Soc. Psych. 93(1):85–102.Crossref, Google Scholar
- (2010) Going green to be seen: Status, reputation, and conspicuous conservation. J. Personality Soc. Psych. 98(3):392–404.Crossref, Google Scholar
- (2019) Selling virtual currency in digital games: Implications for gameplay and social welfare. Inform. Systems Res. 30(2):430–446.Link, Google Scholar
- (2011) Purchase behavior in virtual worlds: An empirical investigation in second life. Inform. Management 48(7):303–312.Crossref, Google Scholar
- (2015) Why do people buy virtual goods? Attitude toward virtual good purchases versus game enjoyment. Internat. J. Inform. Management 35(3):299–308.Crossref, Google Scholar
- (2016) Why do people buy virtual goods? A literature review. Bui TX, Sprague RH Jr, eds. Pro. 49th Hawaii Internat. Conf. System Sci. (IEEE, Piscataway, NJ), 1358–1367.Google Scholar
- (2010) Game design as marketing: How game mechanics create demand for virtual goods. Internat. J. Bus. Sci. Appl. Management 5(1):14–29.Crossref, Google Scholar
- (2013) Topographic representation of numerosity in the human parietal cortex. Science 341(6150):1123–1126.Crossref, Google Scholar
- (2018) Introduction to mediation, moderation, and conditional process analysis: A regression-based approach, 2nd. (Guilford Publications, New York) Google Scholar
- (1996) Knowledge activation: Accessibility, applicability, and salience. Higgins ET , Kruglanski AW , eds. Social Psychology: Handbook of Basic Principles (Guilford Press, New York), 133–168.Google Scholar
- (2015) Can’t buy me love… or can I? Social capital attainment through conspicuous consumption in virtual environments. Inform. Systems Res. 26(4):859–870.Link, Google Scholar
- (2011) Development and validation of the delaying gratification inventory. Psych. Assessment 23(3):725.Crossref, Google Scholar
- (2016) Gamification and mobile marketing effectiveness. J. Interactive Marketing 34:25–36.Crossref, Google Scholar
- (1996) The evaluability hypothesis: An explanation for preference reversals between joint and separate evaluations of alternatives. Organ. Behav. Human Decision Processes 67(3):247–257.Crossref, Google Scholar
- (2003) Medium maximization. J. Consumer Res. 30(1):1–14.Crossref, Google Scholar
- (2019) Large online product catalog space indicates high store price: Understanding customers’ overgeneralization and illogical inference. Inform. Systems Res. 30(3):963–979.Link, Google Scholar
- (2016) The out-of-stock (OOS) effect on choice shares of available options. J. Retailing 92(1):13–24.Crossref, Google Scholar
- (1999) A range theory account of price perception. J. Consumer Res. 25(4):353–368.Crossref, Google Scholar
- (1994) Judgment by quantity. J. Experiment. Psych. General 123(1):21–32.Crossref, Google Scholar
- (2014) Virtual goods, real goals: Exploring means-end goal structures of consumers in social virtual worlds. Inform. Management 51(5):520–531.Crossref, Google Scholar
- (1986) Fairness as a constraint on profit seeking: Entitlements in the market. Amer. Econom. Rev. 76(4):728–741.Google Scholar
- (1976) Decision with Multiple Objectives: Preferences and Value Tradeoffs (Wiley & Sons, New York).Google Scholar
- (2012) What motivates people to purchase digital items on virtual community websites? The desire for online self-presentation. Inform. Systems Res. 23(4):1232–1245.Link, Google Scholar
- (2011) Investigating the intention to purchase digital items in social networking communities: A customer value perspective. Inform. Management 48(6):228–234.Crossref, Google Scholar
- (2013) Valuation of participation in social gaming. Internat. J. Electronic Commerce 18(2):11–50.Crossref, Google Scholar
- (2017) Signaling low margin through assortment. Management Sci. 63(4):1166–1183.Link, Google Scholar
- (2015) Toolification of games: Achieving non-game purposes in the redundant spaces of existing games. Proc. 12th Internat. Conf. Adv. Comput. Entertainment Tech. (ACM, New York), 1– 5.Google Scholar
- (2012) When budgeting backfires: How self-imposed price restraints can Increase spending. J. Marketing. Res. 49(2):218–230.Crossref, Google Scholar
- (2005) Real-money trade of virtual assets: Ten different user perceptions. Proc. Digital Arts Culture Conf. (IT University of Copenhagen, Copenhagen), 52–58.Google Scholar
- (2009) Virtual item sales as a revenue model: Identifying attributes that drive purchase decisions. Electron. Commerce Res. 9(1):97–113.Crossref, Google Scholar
- (2015) Virtual friend recommendations in virtual worlds. Decision Support Systems 69:59–69.Crossref, Google Scholar
- (2012) Discounting in international markets and the face value effect: A double‐edged sword? Psych. Marketing 29(3):144–156.Crossref, Google Scholar
- MMOs.com (2016) The MMO and Moba games market report 2016. Accessed May 3, 2019, https://mmos.com/news/superdata-mmo-moba-2016-market-report.Google Scholar
- (2012) Years, months, and days versus 1, 12, and 365: The influence of units versus numbers. J. Consumer Res. 39(1):185–198.Crossref, Google Scholar
- (2007) Game design on item-selling based payment model in Korean online games. Proc. 2007 DiGRA Conf. (CiteSeer, Tokyo), 650–657.Google Scholar
- (1994) The easy path from many to much: The numerosity heuristic. Cognitive Psych. 26(2):103–133.Crossref, Google Scholar
- (2007) Addressing moderated mediation hypotheses: Theory, methods, and prescriptions. Multivariate Behav. Res. 42(1):185–227.Google Scholar
- (2002) Effect of face value on product valuation in foreign currencies. J. Consumer Res. 29(3):335–347.Crossref, Google Scholar
- (2016) Game on: Engaging customers and employees through gamification. Bus. Horizon 59(1):29–36.Crossref, Google Scholar
- (2011) Control over virtual worlds by game companies: Issues and recommendations. MIS Quart. 35(3):653–671.Crossref, Google Scholar
- (2012) Feelings-as-information theory. Lange PV , Kruglanski A , Higgins ET , eds. Handbook of Theories of Social Psychology (Sage, New York), 289–308.Crossref, Google Scholar
- (2002) Experimental and Quasi-Experimental Designs for Generalized Causal Inference (Houghton Mifflin and Company, Boston).Google Scholar
- (1997) Money illusion. Quart. J. Econom. 112(2):341–374.Crossref, Google Scholar
- (2013) Making sense of nonsense the visual salience of units determines sensitivity to magnitude. Psych. Sci. 24(3):297–304.Crossref, Google Scholar
- (1998) Effects of mood on evaluative judgements: Influence of reduced processing capacity and mood salience. Cognitive Emotion 12(6):783–805.Crossref, Google Scholar
- Statista (2019) MMO and Moba games market revenue worldwide 2017-2021. Accessed May 18, 2019, https://www.statista.com/statistics/830090/mmo-moba-market-revenue/.Google Scholar
- Statista (2020) Market capitalization of cryptocurrencies from 2013 to 2019. Accessed August 9, 2020, https://www.statista.com/statistics/730876/cryptocurrency-maket-value/.Google Scholar
- (1978) Salience, attention, and attribution: Top of the head phenomena. Adv. Experiment. Soc. Psych. 11(C):249–288.Crossref, Google Scholar
- (2004) Irrelevant information and mediated intertemporal choice. J. Consumer Psych. 14(3):257–270.Crossref, Google Scholar
- (2017) The Theory of the Leisure Class (Routledge, New York).Crossref, Google Scholar
- (2007) On the perceived value of money: The reference dependence of currency numerosity effects. J. Consumer Res. 34(1):1–10.Crossref, Google Scholar
- (2009) When are moods most likely to influence consumers’ product preferences? The role of mood focus and perceived relevance of moods. J. Consumer Psych. 19(3):526–536.Crossref, Google Scholar
- (2000) Is 7300 M equal to 7.3 KM? Same semantics but different anchoring effects. Organ. Behav. Human Decision Processes 82(2):314–333.Crossref, Google Scholar
- (2012) Using real options to investigate the market value of virtual world businesses. Inform. Systems Res. 23(3):1011–1029.Link, Google Scholar
- (2014) Exploring the origin of pain of payment in cash and its relevance to computer payment interface. Unpublished doctoral dissertation, Iowa State University.Google Scholar
- (1975) Mate selection—A selection for a handicap. J. Theoret. Biol. 53(1):205–214.Crossref, Google Scholar
- (2010) How price image dimensions influence shopping intentions for different store formats. Eur. J. Marketing 44(6):748–770.Crossref, Google Scholar

