PlumX Metrics
SSRN
Embed PlumX Metrics

Narratives and Valuations

SSRN Electronic Journal
2023
  • 1
    Citations
  • 3,967
    Usage
  • 11
    Captures
  • 0
    Mentions
  • 2
    Social Media
Metric Options:   Counts1 Year3 Year

Metrics Details

  • Citations
    1
    • Citation Indexes
      1
  • Usage
    3,967
    • Abstract Views
      3,173
    • Downloads
      794
  • Captures
    11
  • Social Media
    2
    • Shares, Likes & Comments
      2
      • Facebook
        2
  • Ratings
    • Download Rank
      63,037

Article Description

While the significance of narrative thinking has been increasingly recognized by social scientists, very little empirical research has documented its consequences for economically significant outcomes. The current paper addresses this gap in one important domain: valuations. In three experiments, participants were given the opportunity to sell an item they owned (mug in Study 1, hat in studies 2 and 3) using an incentive-compatible procedure (multiple price list). Prior to making selling decisions, participants were randomly assigned to either a narrative treatment, in which they were asked to tell the story of their item, or a list treatment, in which they were asked to list the characteristics of their item. The narrative treatment led to significantly higher selling prices and increased rates of participants refusing all offered prices. We further explore potential mechanisms, and the impact of different types of narratives, by analyzing self-reported classifications of, and employing natural language processing techniques on, participants' narratives.

Bibliographic Details

Dor Morag; George F. Loewenstein

Elsevier BV

Decision-Making; Experimental; Narratives; Stories; Valuations; Willingness to Accept

Provide Feedback

Have ideas for a new metric? Would you like to see something else here?Let us know