An examination of relationship between cognitive biases and customer satisfaction: empirical evidence from Thailand
Asia-Pacific Journal of Business Administration
ISSN: 1757-4323
Article publication date: 8 June 2022
Issue publication date: 17 November 2023
Abstract
Purpose
This study aims to determine the effect of cognitive biases, that is, anchoring effect, illusion of control, and endowment effect, on customer satisfaction.
Design/methodology/approach
An experimental design was applied using 524 undergraduate students as participants. A three-way ANOVA was employed for data analysis.
Findings
Positive relationships were found between cognitive biases and customer satisfaction. However, no such relationships were found between the interactions of various types of cognitive bias and customer satisfaction, except the interaction between illusion of control and endowment effect.
Research limitations/implications
This study focuses only on three types of cognitive biases; thus, it cannot be generalized to other such systematic patterns.
Practical implications
Marketers can introduce cognitive bias when implementing marketing campaigns to boost customer satisfaction.
Originality/value
This study expands the knowledge boundary by addressing the impact of the interaction between various aspects of cognitive bias that drive customer satisfaction.
Keywords
Citation
Homsud, N. and Rompho, N. (2023), "An examination of relationship between cognitive biases and customer satisfaction: empirical evidence from Thailand", Asia-Pacific Journal of Business Administration, Vol. 15 No. 5, pp. 815-831. https://doi.org/10.1108/APJBA-08-2021-0402
Publisher
:Emerald Publishing Limited
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