The Power Of Touch: An Examination Of Effect Of Duration Of Physical Contact On Valuation Of Objects
Source: Ohio State University (Fisher)
The duration of ownership has been shown to increase the valuation of items a person currently owns as well as items they have owned in the past, a phenomenon termed the "length-of-ownership effect." The author hypothesize that the duration of exposure to an item will foster increased pre-factual attachment to an item and increased valuations in a manner similar to duration of actual ownership. This paper examines this effect in two experiments, both variations of the classic mug experiment. In the first study, participants bid in online English open bid auctions. In the second study, participants bid in first-price sealed bid auctions. In both cases of duration of physical contact positively influenced valuations (i.e., bid levels).