MedicalResearch.com Interview with:
Tamara Masters, PhD
Marriott School of Management
Brigham Young University
MedicalResearch.com: What is the background for this study? What are the main findings?
Response: As a marketing professor I have studied the disparity of what people are willing to sell items/products for and how much that differs from how much others are willing to pay.
I do research in consumer decision making and find the neurophysiological aspects of consumers fascinating. I read medical and neuroscience research for fun and see many ways individuals may be effected in the use of their limited resources. We are all consumers – many make purchases of some type daily – even it if it is to play online games or where and how to get our next meal.
The main findings relate to how a person is either attached to or feels an aversion to losing an object. There has been debate as to which of these factors leads to a difference in buy and selling prices. This research provides a new and unique look at how BOTH factors must be present for this disparity to emerge. This research is unique because it uses combines the fields neuroscience, psychology and economics to explain something we all experience.