Universität zu Köln

Schroeder, Marina, Lueer, Annemarie and Sadrieh, Abdolkarim ORCID: 0000-0002-9322-4729 (2015). Pay-what-you-want or mark-off-your-own-price - A framing effect in customer-selected pricing. J. Behav. Exp. Econ., 57. S. 200 - 205. NEW YORK: ELSEVIER SCIENCE INC. ISSN 2214-8051

Full text not available from this repository.

Abstract

We conduct a natural field experiment to test for the effect of framing on prices paid in two customer -selected price mechanisms. In two framing conditions, we sell a soft drink and provide customers with a reference price for this drink. In the pay-what-you-want (PWYW) condition, customers are told that they can pay much as they want. In the inark-off-your-own-price (MOYOP) condition, customers are told that they can reduce the price by as much as they want. We find that prices are significantly lower and that more customers choose a price of zero in the MOYOP compared to the PWYW condition. We conjecture that the explicit request to reduce the price in MOYOP is a strong signal for customers to adjust their perception of the appropriate price downwards. (C) 2015 Elsevier Inc. All rights reserved.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Schroeder, Marina UNSPECIFIED UNSPECIFIED UNSPECIFIED Lueer, Annemarie UNSPECIFIED UNSPECIFIED UNSPECIFIED Sadrieh, Abdolkarim UNSPECIFIED orcid.org/0000-0002-9322-4729 UNSPECIFIED
URN:	urn:nbn:de:hbz:38-397127
DOI:	10.1016/j.socec.2014.10.007
Journal or Publication Title:	J. Behav. Exp. Econ.
Volume:	57
Page Range:	S. 200 - 205
Date:	2015
Publisher:	ELSEVIER SCIENCE INC
Place of Publication:	NEW YORK
ISSN:	2214-8051
Language:	English
Faculty:	Unspecified
Divisions:	Unspecified
Subjects:	no entry
Uncontrolled Keywords:	Keywords Language PROVISION Multiple languages Economics Multiple languages
URI:	http://kups.ub.uni-koeln.de/id/eprint/39712