Does ¥ 1000 value always equal to ¥ 1000: Experimental research of money value

摘要

Mental accounting is the set of cognitive operations used by individuals and households to organize and evaluate financial activities. Based on the Liaimei's study of mental accounting classes, we construct the value of money concept model using stimulator accessibility, motivation and felling accounting. Our study is theoretically relevant and managerially useful. The findings of our work are helpful to understand the factors that affect consumers, especially Chinese consumers, to evaluate money. These findings are useful in pricing strategies, such as to use monetary forms versus non-monetary forms of pricing, to increase the perceived important, and to position products as valuable gifts.