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soilwork · 03-05-2008, 02:03 PM

Maybe it is slightly

, but...

I am not very familiar with King's experiment but, judging from what I read from this post, one factor that might have contributed to the failure of King's experiment is that the payment is made separately every time a new chapter comes out.

People find it more painful to pay $1 each 10 times than paying 10$ at once. For example, according to Thaler (1985), one reason why credit card is successful is that it lumps small losses into one big loss. By asking people to pay a chapter separately, it might have caused more disutility to readers than by making them pay the total sum at once.

[Reference]
Richard Thaler (1985) "Mental Accounting and Consumer Choice"
Marketing Science, Vol. 4, No. 3. (Summer, 1985), pp. 199-214.

03-05-2008, 02:03 PM	#48
soilwork useR! Posts: 299 Karma: 651 Join Date: Nov 2007 Location: NY Device: Onyx Boox Max 2, Kobo Libra H2O, iRiver Story HD	About King's experiment Maybe it is slightly , but... I am not very familiar with King's experiment but, judging from what I read from this post, one factor that might have contributed to the failure of King's experiment is that the payment is made separately every time a new chapter comes out. People find it more painful to pay $1 each 10 times than paying 10$ at once. For example, according to Thaler (1985), one reason why credit card is successful is that it lumps small losses into one big loss. By asking people to pay a chapter separately, it might have caused more disutility to readers than by making them pay the total sum at once. [Reference] Richard Thaler (1985) "Mental Accounting and Consumer Choice" Marketing Science, Vol. 4, No. 3. (Summer, 1985), pp. 199-214.