Relaxation Increases Monetary Valuations

Journal of Marketing Research, Vol. 48, No. 5, pp. 814-826, 2011

49 Pages Posted: 17 Nov 2011

See all articles by Michel Tuan Pham

Michel Tuan Pham

Columbia University - Columbia Business School

Iris W. Hung

National University of Singapore (NUS) - NUS Business School

Gerald J. Gorn

Hong Kong Polytechnic University - Faculty of Business

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Date Written: October 2011

Abstract

This research documents an intriguing empirical phenomenon whereby states of relaxation increase the monetary valuation of products. This phenomenon is demonstrated in six experiments involving two different methods of inducing relaxation, a large number of products of different types, and various methods of assessing monetary valuation. In all six experiments participants who were put into a relaxed affective state reported higher monetary valuations than participants who were put into an equally pleasant but less relaxed state. This effect seems to be caused by differences in relaxed and non-relaxed individuals' mental construals of the value of the products. Specifically, compared to less-relaxed individuals, relaxed individuals seem to represent the value of products at a higher level of abstraction, which increases their perceptions of these products' value. The phenomenon appears to reflect an inflation of value by relaxed individuals rather than a deflation of value by less-relaxed individuals.

Suggested Citation

Pham, Michel Tuan and Hung, Iris W. and Gorn, Gerald J., Relaxation Increases Monetary Valuations (October 2011). Journal of Marketing Research, Vol. 48, No. 5, pp. 814-826, 2011, Available at SSRN: https://ssrn.com/abstract=1960353

Michel Tuan Pham (Contact Author)

Columbia University - Columbia Business School ( email )

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Iris W. Hung

National University of Singapore (NUS) - NUS Business School ( email )

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Gerald J. Gorn

Hong Kong Polytechnic University - Faculty of Business ( email )

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The Hong Kong Polytechnic University
Hong Kong, Hung Hom, Kowloon M923
China

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