IDEAS home Printed from https://ideas.repec.org/a/spr/amsrev/v3y2013i3d10.1007_s13162-013-0045-x.html
   My bibliography  Save this article

The utility of an information processing approach for behavioral price research

Author

Listed:
  • Rashmi Adaval

    (Hong Kong University of Science & Technology)

Abstract

In their article, Cheng and Monroe provide a historical perspective on behavioral research in pricing. Their consolidation of evidence spanning four decades of research on pricing is testimony to the richness that can result from the convergence of different perspectives and fields on a common set of phenomena. Although the article is framed in terms of concepts that have emerged from substantive concerns, there might be some utility in thinking about the issues in behavioral price research within the framework of an information processing model. Such a model allows one to localize different effects at various stages of processing and helps to raise additional issues to be investigated.

Suggested Citation

  • Rashmi Adaval, 2013. "The utility of an information processing approach for behavioral price research," AMS Review, Springer;Academy of Marketing Science, vol. 3(3), pages 130-134, September.
    • Handle: RePEc:spr:amsrev:v:3:y:2013:i:3:d:10.1007_s13162-013-0045-x
    DOI: 10.1007/s13162-013-0045-x
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s13162-013-0045-x
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s13162-013-0045-x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Raghubir, Priya & Srivastava, Joydeep, 2002. "Effect of Face Value on Product Valuation in Foreign Currencies," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 29(3), pages 335-347, December.
    2. Y. Charles Zhang & Norbert Schwarz, 2012. "How and Why 1 Year Differs from 365 Days: A Conversational Logic Analysis of Inferences from the Granularity of Quantitative Expressions," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 39(2), pages 248-259.
    3. Eldar Shafir & Peter Diamond & Amos Tversky, 1997. "Money Illusion," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 341-374.
    4. Christopher K. Hsee & Yang Yang & Yangjie Gu & Jie Chen, 2009. "Specification Seeking: How Product Specifications Influence Consumer Preference," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 35(6), pages 952-966, April.
    5. Ashwani Monga & Rajesh Bagchi, 2012. "Years, Months, and Days versus 1, 12, and 365: The Influence of Units versus Numbers," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 39(1), pages 185-198.
    6. Keith S. Coulter & Robin A. Coulter, 2010. "Small Sounds, Big Deals: Phonetic Symbolism Effects in Pricing," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 37(2), pages 315-328, August.
    7. Kent B. Monroe, 1971. "The Information Content of Prices: A Preliminary Model for Estimating Buyer Response," Management Science, INFORMS, vol. 17(8), pages 519-532, April.
    8. Adaval, Rashmi & Monroe, Kent B, 2002. "Automatic Construction and Use of Contextual Information for Product and Price Evaluations," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 28(4), pages 572-588, March.
    9. Klaus Wertenbroch & Dilip Soman & Amitava Chattopadhyay, 2007. "On the Perceived Value of Money: The Reference Dependence of Currency Numerosity Effects," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 34(1), pages 1-10, March.
    10. Lillian L. Cheng & Kent B. Monroe, 2013. "An appraisal of behavioral price research (part 1): price as a physical stimulus," AMS Review, Springer;Academy of Marketing Science, vol. 3(3), pages 103-129, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Arnaud Monnier & Manoj Thomas, 2022. "Experiential and Analytical Price Evaluations: How Experiential Product Description Affects Prices [The Utility of an Information Processing Approach for Behavioral Price Research]," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 49(4), pages 574-594.
    2. Manoj Thomas & Ellie J Kyung & Gita V Johar & Rajesh Bagchi, 2019. "Slider Scale or Text Box: How Response Format Shapes Responses," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 45(6), pages 1274-1293.
    3. Jasper Dezwaef & Emiel Cracco & Jelle Demanet & Timothy Desmet & Marcel Brass, 2019. "Beyond asking: Exploring the use of automatic price evaluations to implicitly estimate consumers’ willingness-to-pay," PLOS ONE, Public Library of Science, vol. 14(7), pages 1-16, July.
    4. Lillian L. Cheng & Kent B. Monroe, 2013. "Some reflections on an appraisal of behavioral price research (part 1)," AMS Review, Springer;Academy of Marketing Science, vol. 3(3), pages 155-159, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Santana, Shelle & Thomas, Manoj & Morwitz, Vicki G., 2020. "The Role of Numbers in the Customer Journey," Journal of Retailing, Elsevier, vol. 96(1), pages 138-154.
    2. repec:cup:judgdm:v:12:y:2017:i:6:p:527-536 is not listed on IDEAS
    3. Ohlwein, Martin, 2022. "Same but different - The effect of the unit of measure on the valuation of a unit price," Journal of Retailing and Consumer Services, Elsevier, vol. 66(C).
    4. Fecher, André & Robbert, Thomas & Roth, Stefan, 2020. "Per piece or per kilogram? Default-unit effects in retailing," Journal of Retailing and Consumer Services, Elsevier, vol. 53(C).
    5. Sunaina Shrivastava & Gaurav Jain & Dhananjay Nayakankuppam & Gary J. Gaeth & Irwin P Levin, 2017. "Numerosity and allocation behavior: Insights using the dictator game," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 12(6), pages 527-536, November.
    6. C. Lembregts & M. Pandelaere, 2012. "Are All Units Created Equal?: The Effect of Default Units on Product Evaluations," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 12/812, Ghent University, Faculty of Economics and Business Administration.
    7. Nicole Koschate-Fischer & Katharina Wüllner, 2017. "New developments in behavioral pricing research," Journal of Business Economics, Springer, vol. 87(6), pages 809-875, August.
    8. Lin, Ying-Ching & Fang, Shiuan-Huei, 2013. "The face value of foreign currency on consumer price perception—The moderating effect of product substitution," Journal of Business Research, Elsevier, vol. 66(6), pages 745-751.
    9. Fecher, André & Robbert, Thomas & Roth, Stefan, 2019. "Same price, different perception: Measurement-unit effects on price-level perceptions and purchase intentions," Journal of Retailing and Consumer Services, Elsevier, vol. 49(C), pages 129-142.
    10. Keith S. Coulter, 2013. "Commentary on: “an appraisal of behavioral price research (Part I)”," AMS Review, Springer;Academy of Marketing Science, vol. 3(3), pages 135-140, September.
    11. Matthew Fisher & Milica Mormann, 2022. "The Off by 100% Bias: The Effects of Percentage Changes Greater than 100% on Magnitude Judgments and Consumer Choice [Numerosity and Consumer Behavior]," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 49(4), pages 561-573.
    12. Tyszka, Tadeusz & Przybyszewski, Krzysztof, 2006. "Cognitive and emotional factors affecting currency perception," Journal of Economic Psychology, Elsevier, vol. 27(4), pages 518-530, August.
    13. Choi, Pilsik & Coulter, Keith S., 2012. "It's Not All Relative: The Effects of Mental and Physical Positioning of Comparative Prices on Absolute versus Relative Discount Assessment," Journal of Retailing, Elsevier, vol. 88(4), pages 512-527.
    14. Gärling, Tommy & Gamble, Amelie, 2008. "Perceived inflation and expected future prices in different currencies," Journal of Economic Psychology, Elsevier, vol. 29(4), pages 401-416, August.
    15. Antonio J. Morales & Enrique Fatas, 2021. "Price competition and nominal illusion: experimental evidence and a behavioural model," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 12(4), pages 607-632, December.
    16. Manoj Thomas, 2013. "Commentary on behavioral price research: the role of subjective experiences in price cognition," AMS Review, Springer;Academy of Marketing Science, vol. 3(3), pages 141-145, September.
    17. Peter Wakker & Veronika Köbberling & Christiane Schwieren, 2007. "Prospect-theory’s Diminishing Sensitivity Versus Economics’ Intrinsic Utility of Money: How the Introduction of the Euro can be Used to Disentangle the Two Empirically," Theory and Decision, Springer, vol. 63(3), pages 205-231, November.
    18. Vaona, Andrea, 2013. "Money illusion and the long-run Phillips curve in staggered wage-setting models," Research in Economics, Elsevier, vol. 67(1), pages 88-99.
    19. Li, Yi & Pandelaere, Mario, 2021. "The denomination–spending matching effect," Journal of Business Research, Elsevier, vol. 128(C), pages 338-349.
    20. Lembregts, Christophe & Pandelaere, Mario, 2014. ""A 20% income increase for everyone?": The effect of relative increases in income on perceived income inequality," Journal of Economic Psychology, Elsevier, vol. 43(C), pages 37-47.
    21. Alberto Montagnoli & Andrea Vaona, 2015. "Searching for Money Illusion in Europe," Working Papers 10/2015, University of Verona, Department of Economics.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:amsrev:v:3:y:2013:i:3:d:10.1007_s13162-013-0045-x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.