In which case are you more likely to return to merchant

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Reference no: EM133612255

Problem: Consider the following scenario. You are shopping at the Silk Road Mall in Beijing and you notice a very nice leather bag that you would like to buy. You figure that a bag of similar style and workmanship would cost you about 150 Euros in Germany. Furthermore, it is exactly what you want. You decide to bargain with the merchant and settle on a price of approximately 30 Euros. Situation I: You later show it to a friend who reveals a similar bag purchased from the same merchant for 50 Euros. Situation II: You later show it to a friend who reveals a similar bag purchased from the same merchant for 20 Euros. In which case are you more likely to return to that merchant tomorrow to make another purchase? What effect(s) best describes this behavior?

Reference no: EM133612255

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