Psychologische Mechanismen bei Preiswahrnehmungen im Rahmen der Euro-Einführung

Translated title of the contribution: Psychological Mechanisms of Price Perceptions in the Course of the Euro Introduction

Tobias Greitemeyer, Eva Traut-Mattausch, Eva Jonas, Ruth Klendauer, Dieter Frey, Stefan Schulz-Hardt

Research output: Contribution to journalArticlepeer-review

Abstract

In Germany, the introduction of the Euro has been one of the most important economic changes in the last decades. This paper reviews how the introduction of the Euro has affected price trend perceptions as well as comparisons of DM and Euro prices. Prices in Euro, relative to DM, are typically overestimated, which is due to people’s failure to revise their initial (faulty) expectations of price increases. In addition, due to anchoring effects, the comparison of prices in DM and Euro results in biased judgments. For instance, while people focus on nominal numbers, they neglect the real amount of money (Euro illusion).
Translated title of the contributionPsychological Mechanisms of Price Perceptions in the Course of the Euro Introduction
Original languageGerman
Pages (from-to)59-64
JournalWirtschaftspsychologie
Volume2007
Issue number3
Publication statusPublished - 2007
Externally publishedYes

Keywords

  • Euro
  • psychology of money
  • expectancy effects
  • biased judgments
  • price perceptions

Fields of Science and Technology Classification 2012

  • 501 Psychology

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