Mathematics

Henry Krause

26 July, 18:21

If you bought a camera in good condition from a friend, would you pay the same as you would if you bought the same item from a stranger? A researcher at Cornell University want to know how friendship might affect simple sales such as this. She randomly divided 15 subjects into two groups and gave each group the same description of a used camera. One group was told to imagine buying from a friend whom they expected to see again. The other group was told to imagine buying from a stranger. The researcher recorded the price each person was willing to pay for the camera.