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Effects of Seller-Supplied Prices on Buyers' Product Evaluations: Reference Prices in an Internet Auction Context

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  • Kamins, Michael A
  • Dreze, Xavier
  • Folkes, Valerie S

Abstract

A field experiment investigated the impact of two external reference points under the seller's control on the final price of an auction. When an item's seller specified a high external reference price (a reserve price), the final bid was greater than when the seller specified a low external reference price (a minimum bid). When the seller provided both high and low reference prices, the reserve influenced the final bid more. The low reference price led to a lower outcome compared to when the seller did not communicate any reference price. The number of bidders influenced outcomes in the absence of seller-supplied reference prices. Copyright 2004 by the University of Chicago.

Suggested Citation

  • Kamins, Michael A & Dreze, Xavier & Folkes, Valerie S, 2004. "Effects of Seller-Supplied Prices on Buyers' Product Evaluations: Reference Prices in an Internet Auction Context," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 30(4), pages 622-628, March.
    • Handle: RePEc:oup:jconrs:v:30:y:2004:i:4:p:622-28
    DOI: 10.1086/380294
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