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Neuromarketing: Consumers and the Anchoring Effect

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  • Jose Chavaglia Neto
  • Jose Antonio Filipe
  • Brenno Ramalheiro

Abstract

The model of economic analysis used on the market by companies has shown too much inability to the explanation of problems arising from the economic man’s decision. So that alternative theories have been developed by a conventional series of renowned scientists and institutions. The need of an alternative has generated several different approaches. It is the case of the analysis of behavioral economics, represented in this study by neuromarketing. Theoretical view in the study of the anchoring effect of prices in the consumer's mind is presented. This study evidences the existence of the anchoring effect of prices in consumer decision of students from business courses of the city of Belém – PA (Brazil).

Suggested Citation

  • Jose Chavaglia Neto & Jose Antonio Filipe & Brenno Ramalheiro, 2011. "Neuromarketing: Consumers and the Anchoring Effect," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 1(4), pages 183-183.
    • Handle: RePEc:ers:ijfirm:v:1:y:2011:i:4:p:183
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    References listed on IDEAS

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    1. Don Ross & Carla Sharp & Rudy E. Vuchinich & David Spurrett, 2008. "Midbrain Mutiny: The Picoeconomics and Neuroeconomics of Disordered Gambling: Economic Theory and Cognitive Science," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262182653, December.
    2. Ariel Rubinstein, 2005. "Discussion of 'BEHAVIORAL ECONOMICS'," Levine's Bibliography 784828000000000539, UCLA Department of Economics.
    3. Bechara, Antoine & Damasio, Antonio R., 2005. "The somatic marker hypothesis: A neural theory of economic decision," Games and Economic Behavior, Elsevier, vol. 52(2), pages 336-372, August.
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    Cited by:

    1. José Chavaglia Neto & José António Filipe, 2015. "Consumers Economic Behavior and Emotions: the case of iphone 6 in Neuromarketing," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 5(4), pages 1041-1041.

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