TITLE:
The Impact of Psychological Value (Emotional Attachment) on the Price of Second-Hand Goods
AUTHORS:
Milad Abdelnabi Salem, Fekri Shawtari
KEYWORDS:
Emotional Attachment, Second-Hand Goods, Price, Valuation
JOURNAL NAME:
Open Access Library Journal,
Vol.10 No.1,
January
31,
2023
ABSTRACT: Many marketing and economic studies have discussed the main determinants of the price in the market. However, to the best of our knowledge, few studies have addressed how the price could be determined in second-hand shopping. Studies have concluded that the duration of ownership has a significant positive relationship with the value of the object. This paper argues that such a relationship depends on the experience of using the object (either positive or negative). It argues that ownership duration per se cannot determine the price of second-hand goods. Rather, the type of experience during the acquisition is the main determinant of the price of second-hand goods. It reviews the related literature and paves the way for investigating the effects of psychological determinants on the valuation of second-hand goods.