The paper "Buyers Versus Sellers: How They Differ in Their Responses to Framed Outcomes by Ashwani Monga" is a delightful example of an article on category. The topic of the article is Buyers Versus Sellers: How They Differ in Their Responses to Framed Outcomes. It is written by Ashwani Monga from the University of Texas and Rui (Juliet) Zhu from the University of British Colombia. The topic of this article suggests some profound competition between buyers and sellers. The two categories operate on the basis of the gain or loss in the commodity.
Sellers try their level best to achieve a gain while at the same time buyers try to avoid a loss during their purchase. They would go for something with a discount rather than go for something that would come at a loss. Different factors influence both the buying and the selling price and the buyer would try to convince the seller as much as this seller would convince the buyer. In other words, it represents a chain of convincing the other person on either the value of the item or the discount offered on the commodity. The article aims at showing the market balance that involves selling and buying.
This happens in the sense that all try to outsmart each other for one reason which is gain thus, avoiding loss. The findings of this article state that the selling prices would be motivated by the benefit of owning the commodity. On the other hand, buying prices would be determined by the reference prices of the sale. This means that they portray different approaches to the framed outcomes of their transactions.
Fairness ends up being more of a disadvantage than an advantage. The keenest gets the intended reward. The results and the discussion based on this article could be said to be reasonable. Looking at the marketing world, consumers and sellers would be keen to gain and not incur losses. This means that they would involve in both fair and unfair methods during their operatives. The article, for example, tells us that a seller selling an item with different methods would like to make the buyer feel the gain.
The seller would convince the buyer that one method gives them a bonus rather than tell him that the other method would cause loss. This works to the advantage of the seller. Sellers always aim at the promotion business while buyers aim at the prevention status. Buying and selling end up being a tricky issue because all the participants would want to gain at some level as the article states. A difference in their expectations would make a difference in the outcome of the framed terms of gain and loss.
This would be because they all focus on the same goals manifested in different ways. In the business world, today, it might not be necessary for these variables to happen. Most of the time sellers try to manipulate buyers especially when the item proves to be important. This could be viewed such as during the time of winter season when the climate is chilly. Sellers dealing in coats would sell them at a higher price than they would sell it during autumn. The article implies that both buyers and sellers affect the transaction, but at times one of them might have no say.
This happens at a time when the seller manipulates the buyer or the buyer manipulates the seller. The buyer could know another seller that could strike a better deal than the previous one. This means that both buyers and sellers affect the framed outcomes, but in the end, the gain goes to the most consistent. One could call it survival for the fittest. Gain or loss could be termed as a personal induced factor a person calls upon.