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{
    "pk": 27821,
    "title": "Dynamic and distrobutional properties of prices",
    "subtitle": null,
    "abstract": "Most models of pricing embody a static, deterministic theoryof value where the monetary amount people assign to an itemis computed as a fixed function of its attributes. Preference re-versals — where prices assigned to gambles conflict with pref-erence orders elicited through binary choices – indicate thatthe response processes going into value assessments are impor-tant. In this paper, we additionally show that price responsesare sensitive to time pressure, suggesting a dynamic underlyingcognitive process. We also show that the elicited price distribu-tions can possess strong positive or negative skew, indicatingthat diverging information is used to generate buying versusselling and certainty equivalent prices. We develop a computa-tional cognitive model that predicts these continuous distribu-tions of price responses and how they change over time, show-ing that it can account for the major dynamic and distributionalproperties of prices and decisions.",
    "language": "eng",
    "license": {
        "name": "",
        "short_name": "",
        "text": null,
        "url": ""
    },
    "keywords": [
        {
            "word": "pricing"
        },
        {
            "word": "Cognitive model"
        },
        {
            "word": "Buying"
        },
        {
            "word": "Selling"
        },
        {
            "word": "Certainty equivalent"
        }
    ],
    "section": "Publication-based-Talks",
    "is_remote": true,
    "remote_url": "https://escholarship.org/uc/item/4zf0c9sx",
    "frozenauthors": [
        {
            "first_name": "Peter",
            "middle_name": "D",
            "last_name": "Kvam",
            "name_suffix": "",
            "institution": "Indiana University, Bloomington",
            "department": ""
        },
        {
            "first_name": "Jerome",
            "middle_name": "R",
            "last_name": "Busemeyer",
            "name_suffix": "",
            "institution": "Indiana University, Bloomington",
            "department": ""
        }
    ],
    "date_submitted": null,
    "date_accepted": null,
    "date_published": "2018-01-01T18:00:00Z",
    "render_galley": null,
    "galleys": [
        {
            "label": "PDF",
            "type": "pdf",
            "path": "https://journalpub.escholarship.org/cognitivesciencesociety/article/27821/galley/17460/download/"
        }
    ]
}