Evaluating consumer price perception: a mental accounting and frame dependent perspective

In this thesis, we evaluate consumer purchase behaviour from the perspective of heuristic decision making. Heuristic decision processes are quick and easy mental shortcuts, adopted by individuals to reduce the amount of time spent in decision making. In particular, we examine those heuristics which are caused by framing – prospect theory and mental accounting, and examine these within price related decision scenarios. The impact of price framing on consumer behaviour has been studied under the broad umbrella of reference price, which suggests that decision makers use reference points as standards of comparison when making a purchase decision. We investigate four reference points - a retailer's past prices, a competitor's current prices, a competitor's past prices, and consumers' expectation of immediate future price changes, to further our understanding of the impact of price framing on mental accounting, and in turn, contribute to the growing body of reference price literature in Marketing research. We carry out experiments in which levels of price frame and monetary outcomes are manipulated in repeated measures analysis of variance (ANOVA). Our results show that where these reference points are clearly specified in decision problems, price framing significantly affects consumers' perceptions of monetary gains derived through discounts, and leads to reversals in consumer preferences. We also found that monetary losses were not sensitive to price frame manipulations.

Investigating the use of LiDAR scanning as a method for the measurement of timber distortion features

Measuring the extent to which a piece of structural timber has distorted at a macroscopic scale is fundamental to assessing its viability as a structural component. From the sawmill to the construction site, as structural timber dries, distortion can render it unsuitable for its intended purposes. This rejection of unusable timber is a considerable source of waste to the timber industry and the wider construction sector. As such, ensuring accurate measurement of distortion is a key step in addressing ineffciencies within timber processing. Currently, the FRITS frame method is the established approach used to gain an understanding of timber surface profile. The method, while reliable, is dependent upon relatively few measurements taken across a limited area of the overall surface, with a great deal of interpolation required. Further, the process is unavoidably slow and cumbersome, the immobile scanning equipment limiting where and when measurements can be taken and constricting the process as a whole. This thesis seeks to introduce LiDAR scanning as a new, alternative approach to distortion feature measurement. In its infancy as a measurement technique within timber research, the practicalities of using LiDAR scanning as a measurement method are herein demonstrated, exploiting many of the advantages the technology has over current approaches. LiDAR scanning creates a much more comprehensive image of a timber surface, generating input data multiple magnitudes larger than that of the FRITS frame. Set-up and scanning time for LiDAR is also much quicker and more flexible than existing methods. With LiDAR scanning the measurement process is freed from many of the constraints of the FRITS frame and can be done in almost any environment. For this thesis, surface scans were carried out on seven Sitka spruce samples of dimensions 48.5x102x3000mm using both the FRITS frame and LiDAR scanner. The samples used presented marked levels of distortion and were relatively free from knots. A computational measurement model was created to extract feature measurements from the raw LiDAR data, enabling an assessment of each piece of timber to be carried out in accordance with existing standards. Assessment of distortion features focused primarily on the measurement of twist due to its strong prevalence in spruce and the considerable concern it generates within the construction industry. Additional measurements of surface inclination and bow were also made with each method to further establish LiDAR's credentials as a viable alternative. Overall, feature measurements as generated by the new LiDAR method compared well with those of the established FRITS method. From these investigations recommendations were made to address inadequacies within existing measurement standards, namely their reliance on generalised and interpretative descriptions of distortion. The potential for further uses of LiDAR scanning within timber researches was also discussed.