An Examination of Different Explanations for the Mere Exposure Effect XIANG FANG SURENDRA SINGH ROHINI AHLUWALIA* This article investigates two competing explanations of the mere exposure ef- fect—the cognition-based perceptual fluency/misattribution theory (PF/M) and the affect-based hedonic fluency model (HFM)—under incidental exposure conditions. In two studies, the classical mere exposure effect is replicated in the context of banner advertising. The findings rule out the cognition-based PF/M and suggest that the spontaneous affective reaction resulting from perceptual fluency is a crucial link between fluency and evaluation. The studies provide strong evidence that the spontaneous affect influences evaluative judgments through a more complex pro- cess, likely by coloring the interpretation of the fluency experience and the nature of resulting metacognitions relating fluency to liking. Theoretical and managerial implications of the findings are mentioned. he majority of ad exposure occurs under incidental con- (Bornstein and D’Agostino 1992, 1994). Most marketingT ditions—where the audiences’ attention is focused else- studies have utilized PF/M as the explanatory mechanism where—such as reading a magazine or browsing a Web (e.g., Janiszewski and Meyvis 2001; Nordhielm 2002).