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  6. Do Consumer Prefer Round Prices? Evidence from Pay-What-You-Want Decisions and Self-Pumped Gasoline Purchases

Do Consumer Prefer Round Prices? Evidence from Pay-What-You-Want Decisions and Self-Pumped Gasoline Purchases

File(s)
Lynn65_Do_consumers_prefer_round_prices.pdf (284.43 KB)
Permanent Link(s)
https://hdl.handle.net/1813/72094
Collections
SHA Articles and Chapters
Author
Lynn, Michael
Flynn, Sean Masaki
Helion, Chelsea
Abstract

Consumers selected round prices and/or sales-totals at greater than chance levels across two different pay-what-you-want situations and one self-pumped gasoline purchase. The differences among these situations suggest that the tendency to select round prices/sales-totals reflects a subjective preference (or liking) for round prices and not a variety of other potential explanatory processes. Discussion focuses on possible economic consequences of this revealed preference for round prices as well as directions for future research.

Date Issued
2013-01-01
Keywords
round prices
•
sales totals
•
consumer preference
Related DOI
https://doi.org/10.1016/j.joep.2013.01.010
Rights
Required Publisher Statement: © Elsevier. Final version published as: Lynn, M., Flynn, S. M., & Helion, C. (2013). Do consumer prefer round prices? Evidence from pay-what-you-want decisions and self-pumped gasoline purchases. Journal of Economic Psychology, 36, 96-102. Reprinted with permission. All rights reserved.
Type
article

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