# Exploring the Influence of Online Price Anchoring and Attribute Framing on the Likelihood of Hearing Aid Purchases

## TL;DR

This study explores how online information about hearing aid prices and features affects older adults' likelihood to purchase them.

## Contribution

It introduces a novel experimental approach to examine the effects of price anchoring and attribute framing on hearing aid purchase decisions.

## Key findings

- No significant main effects of anchoring or framing on purchase likelihood were found.
- Self-rated knowledge positively correlated with purchase likelihood across all devices.
- Participants with below-median hearing showed anchoring effects for two devices.

## Abstract

Background/Objectives: This study investigated whether exposure to various types of information online can influence adults aged 40 and above in their likelihood to purchase hearing aids (HAs). Specifically, it examined the effects of price anchoring, using high or low HA prices in advertisements, and attribute framing, using product descriptions that highlighted lifestyle appeal or technological capabilities. Methods: In a 2 × 2 experimental design, 271 participants browsed a website simulating an online search for hearing health information. Participants then rated their likelihood of purchasing three fictitious HAs as well as their likelihood of not purchasing any device. Results: Two-way ANCOVAs indicated no significant main effects of anchoring or framing on purchase likelihood for the fictitious devices (covariates included self-rated hearing ability, trust in online health information, and HA knowledge and importance). No significant interaction effects emerged. However, exploratory analyses revealed significant anchoring effects for two of the three devices among participants with below-median self-rated hearing. Additionally, self-rated knowledge was a significant covariate in the model for all devices (p < 0.001), positively correlating with purchase likelihood. Participants with above-median self-rated knowledge showed significantly higher purchase likelihood for all devices (p < 0.001, d ≥ 0.572 for all comparisons), while those with below-median knowledge displayed a significant anchoring effect for two outcomes. Conclusions: Enhanced HA knowledge may increase HA purchase likelihood and reduce the potential anchoring effects of online advertising. Further research is needed to determine the impact of exposure to high or low prices on HA purchase decisions, especially among those with poorer hearing.