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The Influence of Quantitative Restriction on the Quantity of Purchases under Anchoring Effect
- 1 Shenyang No.2 High School
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Abstract
The aim of this study is to analysis whether purchase quantity limit is an effective anchoring. Anchoring effect is a cognitive bias where individuals rely too heavily on the first piece of information they receive when making decisions. This bias has been extensively studied in the context of pricing decisions, but less attention has been paid to its effect on quantity limitations in purchasing decisions. This study uses a questionnaire to investigate how the anchoring effect affects consumers’ decisions about the quantity of a product they would purchase when faced with quantity limitations. By examining the effect of the anchoring bias on purchasing quantity limitations, the studies shed light on a relatively unexplored area of consumer behavior research. The key findings of the paper suggest that the anchoring effect influences consumers’ decisions about the quantity of a product they would purchase, and that this effect is moderated by the type of product being considered. Overall, the paper provides valuable insights into the role of the anchoring effect in purchasing decisions, and highlights the importance of considering product type when designing quantity limitations. By taking into account the anchoring effect and its moderating factors, businesses can better understand and influence consumers’ purchasing decisions, potentially leading to increased sales and revenue.
Keywords
anchoring effect, purchase quantity limit, consumption behaviour
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Cite this article
Zhang,R. (2023). The Influence of Quantitative Restriction on the Quantity of Purchases under Anchoring Effect. Advances in Economics, Management and Political Sciences,38,141-146.
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