Emotions Drive Significant Gap Between What We're Willing to Pay and Accept.
The article explores why people are willing to pay more for something than they are willing to accept as payment. Different factors like risk attitudes, experience, and emotions can affect this gap. The researchers conducted experiments, including one with college students, and found that emotions play a significant role in the difference between what people are willing to pay and accept. Overall, understanding consumer behavior should focus on which factors impact this gap the most, depending on the type of product and market.
