How much product information do consumers want?
Tuesday, September 18, 2012 - 11:03
in Mathematics & Economics
In a new study, psychologists at Brown University and the University of Colorado found that while some people require a detailed explanation of how a product works before they'll be willing to pay more, others became less willing to pay when confronted with that additional detail. A simple, standard test predicted the desire for detail — who wants more, who wants less.