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Heuristic Thinking and Limited Attention in the Car Market

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NBER2011-05-01 更新2025-01-04 收录
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Can heuristic information processing affect important product markets? We explore whether the tendency to focus on the left-most digit of a number affects how used car buyers incorporate odometer values in their purchase decisions. Analyzing over 22 million wholesale used-car transactions, we find

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2011-05-01
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