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

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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:
CreatorsEmailORCIDORCID Put Code
Schroeder, MarinaUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
Lueer, AnnemarieUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
Sadrieh, AbdolkarimUNSPECIFIEDorcid.org/0000-0002-9322-4729UNSPECIFIED
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:
KeywordsLanguage
PROVISIONMultiple languages
EconomicsMultiple languages
URI: http://kups.ub.uni-koeln.de/id/eprint/39712

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