Effect of herd cues and product involvement on bidder online choices.
Previous works have shown that consumers are influenced by others in decision making. Herd behavior is common in situations in which consumers infer product quality from other consumer choices and incorporate that information into their own decision making. This research presents two studies examining herd effect and the moderating role of product involvement on bidder choices in online auctions. The two studies addressed the influence on bidder online choices of herd cues frequently found in online auctions, including feedback ratings and number of questions and answers. The experimental results demonstrated that bidders use online herd cues when making decisions in online auctions. Additionally, the effects of herd cues on bidder online choices were stronger in high-involvement than low-involvement participants. Results and implications are discussed.
Chen
Yi-Fen
YF
Department of International Trade, Chung Yuan Christian University, No. 200 Chung Pei Rd., Chung Li, Taiwan. fen1307@gmail.com
Wang
Ya-Ju
YJ
D000293:Adolescent; D000328:Adult; D002755:Choice Behavior; D003132:Commerce; D003256:Community Participation; D003163:Competitive Behavior; D003164:Competitive Bidding; D003657:Decision Making; D005260:Female; D006801:Humans; D020407:Internet; D008297:Male; D008399:Mass Behavior; D012016:Reference Values; D012917:Social Adjustment; D012938:Social Perception; D055815:Young Adult