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The Effect of Physical Possession on Preference for Product Warranty
Chark, R1; Muthukrishnan, AV2

Peck and Shu (2009) found that touching a product causes greater endowment effect We seek to replicate and extend this finding to the case that whether touching a product consumers have just bought may increase the willingness to pay (WTP) for warranty. Loss aversion, the tendency to prefer avoiding losses over obtaining equivalent monetary gains, often explains product warranty purchases. This tendency will be stronger when the buyers consider the product as part of their endowment Touching the product promotes stronger ownership perception and thus shifts consumer's reference point. The new reference point causes consumers to anticipate greater pain from the loss of the product and thus leads to higher WTP for product warranty protection. We find support for this hypothesis in two field studies with a total of 104 participants. 

KeywordWarranty Endowment Effect Loss Aversion Ownership Perception Physical Possession Touch
Indexed BySSCI ; SSCI
WOS Research AreaBusiness & Economics
WOS SubjectBusiness
WOS IDWOS:000327807800011
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Cited Times [WOS]:5   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionPersonal research not belonging to the institution
Faculty of Business Administration
Affiliation1.NUS Business Sch, Dept Mkt, Singapore 119245, Singapore
2.Hong Kong Univ Sci & Technol, Dept Mkt, Hong Kong, Hong Kong, Peoples R China
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GB/T 7714
Chark, R,Muthukrishnan, AV. The Effect of Physical Possession on Preference for Product Warranty[J]. INTERNATIONAL JOURNAL OF RESEARCH IN MARKETING,2013,30(4):424-425.
APA Chark, R,&Muthukrishnan, AV.(2013).The Effect of Physical Possession on Preference for Product Warranty.INTERNATIONAL JOURNAL OF RESEARCH IN MARKETING,30(4),424-425.
MLA Chark, R,et al."The Effect of Physical Possession on Preference for Product Warranty".INTERNATIONAL JOURNAL OF RESEARCH IN MARKETING 30.4(2013):424-425.
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