TAKING THE PERSPECTIVE OF A SELLER AND A BUYER: IMPLICATIONS FOR PRICE ELICITATION AND PRICE FRAMING

This dissertation consists of two essays which investigate how assuming the role of a seller or a buyer affects valuations in a price elicitation task (essay I) and how different presentations of an equivalent price affect evaluations when a consumer plays the dual roles of a buyer and a seller in transactions involving trade-ins (essay II). Sellers’ willingness to accept (WTA) to give up a good is typically higher than buyers' willingness to pay (WTP) to obtain the good. Essay I proposes that valuation processes of sellers and buyers are guided by a motivational orientation of “getting the best.” For a seller (buyer) indicating WTA (WTP), getting the best implies receiving as much as possible to give up a specific good (giving up as little as possible to get the specific good). Results of six studies suggest that the WTA-WTP elicitation task activates different directional goals, leading to the WTA-WTP disparity. The different directional goals lead sellers and buyers to focus on different aspects and bias their cognitive reasoning and interpretation of information. By connecting the valuation process to the general motivation of getting the best, this research provides a unifying framework to explain the disparate interpretations of the WTA-WTP disparity. Many new purchases and replacement decisions involve consumers’ trading in their old products. In such transactions, the overall exchange may be priced either as separate transactions (partitioned) with price tags for the payment and the receipt or as a single net price (consolidated) which takes into account the value of the trade-in. Essay II examines whether consumers prefer a partitioned price versus a consolidated price presentation. The findings suggest that when consumers are trading in a product which has a low value relative to the price of a new product, they prefer a consolidated price. In contrast, when trading in a product which has high value, they prefer a partitioned price. The results suggest that consumers use the price of the new product as an anchor to evaluate the trade-in value, and the perception of the trade-in value influences the overall evaluation especially when the transaction is partitioned.

Nurturing Change: Lilly Martin Spencer's Images of Children

This dissertation is the first full-length study to concentrate on American genre painter Lilly Martin Spencer's images of children, which constituted nearly one half of her saleable production during the height of her artistic career from 1848 to 1869. At this time, many young parents received advice regarding child rearing through books and other publications, having moved away from their families of origin in search of employment. These literatures, which gained in popularity from the 1830s onward, focused on spiritual, emotional, and disciplinary matters. My study considers four major themes from the period's writing on child nurture that changed over time, including depravity and innocence, parent/child bonding, standards of behavior and moral rectitude, and children's influence on adults. It demonstrates how Spencer's paintings, prints, and drawings featuring children supported and challenged these evolving ideologies, helping to shed light not only on the artist's reception of child-rearing advice, but also on its possible impact on her middle-class audience, to whom she closely catered. In four chapters, I investigate Spencer's images of sleeping children as visual equivalents of contemporary consolation literature during a time of high infant and child mortality rates; her paintings of parent/child interaction as promoting separation from mothers and emotional bonding with fathers; her prints of mischievous children as both considering changing ideals about children's behavior and comforting Anglo-American citizens afraid of what they saw as threatening minority groups; and her pictures with Civil War and Reconstruction subject matter as contending with the popular concept of the moral utility of children. By framing my interpretations of Spencer's output around key issues in the period's dynamic child-nurture literature, I advance new comprehensive readings of many of her most well-known paintings, including Domestic Happiness, Fi, Fo, Fum!, and The Pic Nic or the Fourth of July. I also consider work often overlooked by other art historians, but which received acclaim in Spencer's own time, including the lithographs of children made after her designs, and the allegorical painting Truth Unveiling Falsehood. Significantly, I provide the first in-depth analysis of a newly rediscovered Reconstruction-era painting, The Home of the Red, White, and Blue.