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Some reflections on an appraisal of behavioral price research (part 1)

Author

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  • Lillian L. Cheng
  • Kent B. Monroe

    (University of Illinois at Urbana-Champaign)

Abstract

The authors reflect on the commentators’ comments and add some additional thoughts about the current state of behavioral price research.

Suggested Citation

  • 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.
    • Handle: RePEc:spr:amsrev:v:3:y:2013:i:3:d:10.1007_s13162-013-0052-y
    DOI: 10.1007/s13162-013-0052-y
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    References listed on IDEAS

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    1. 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.
    2. 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.
    3. Alba, Joseph W, et al, 1999. "The Effect of Discount Frequency and Depth on Consumer Price Judgments," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 26(2), pages 99-114, September.
    4. Wells, William D, 2001. "The Perils of N = 1," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 28(3), pages 494-498, December.
    5. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    6. Klein, Benjamin & Leffler, Keith B, 1981. "The Role of Market Forces in Assuring Contractual Performance," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 615-641, August.
    7. Marc Vanhuele & Gilles Laurent & Xavier Drze, 2006. "Consumers' Immediate Memory for Prices," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 33(2), pages 163-172, July.
    8. Angela Y. Lee, 2013. "A Closer look at reference price: A commentary," AMS Review, Springer;Academy of Marketing Science, vol. 3(3), pages 151-154, September.
    9. Machleit, Karen A. & Eroglu, Sevgin A., 2000. "Describing and Measuring Emotional Response to Shopping Experience," Journal of Business Research, Elsevier, vol. 49(2), pages 101-111, August.
    10. Bechara, Antoine & Damasio, Antonio R., 2005. "The somatic marker hypothesis: A neural theory of economic decision," Games and Economic Behavior, Elsevier, vol. 52(2), pages 336-372, August.
    11. Alba, Joseph W, et al, 1994. "The Influence of Prior Beliefs, Frequency Cues, and Magnitude Cues on Consumers' Perceptions of Comparative Price Data," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 21(2), pages 219-235, September.
    12. Marc Vanhuele & Gilles Laurent & X. Drèze, 2006. "Consumers' Immediate Memory for Prices," Post-Print halshs-00119558, HAL.
    13. Akshay R. Rao, 2013. "How and why is price perceived: a commentary on Cheng and Monroe," AMS Review, Springer;Academy of Marketing Science, vol. 3(3), pages 146-150, September.
    14. Slovic, Paul & Finucane, Melissa L. & Peters, Ellen & MacGregor, Donald G., 2007. "The affect heuristic," European Journal of Operational Research, Elsevier, vol. 177(3), pages 1333-1352, March.
    15. 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.
    16. Haipeng (Allan) Chen & Akshay R. Rao, 2007. "When Two Plus Two Is Not Equal to Four: Errors in Processing Multiple Percentage Changes," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 34(3), pages 327-340, June.
    17. Ashok K. Lalwani & Kent B. Monroe, 2005. "A Reexamination of Frequency-Depth Effects in Consumer Price Judgments," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 32(3), pages 480-485, December.
    18. 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.
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    Cited by:

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    2. Morlotti, Chiara & Mantin, Benny & Malighetti, Paolo & Redondi, Renato, 2024. "Price volatility of revenue managed goods: Implications for demand and price elasticity," European Journal of Operational Research, Elsevier, vol. 312(3), pages 1039-1058.
    3. Robert Sinclair & Jess Diamond, 2022. "Basic food and drink price distributions transcend time and culture," Palgrave Communications, Palgrave Macmillan, vol. 9(1), pages 1-7, December.
    4. Bambauer-Sachse, Silke & Massera, Laura, 2015. "Interaction effects of different price claims and contextual factors on consumers' reference price adaptation after exposure to a price promotion," Journal of Retailing and Consumer Services, Elsevier, vol. 27(C), pages 63-73.
    5. Seung Hwan (Shawn) Lee, 2019. "An Exploration of Initial Purchase Price Dispersion and Service-Subscription Duration," Sustainability, MDPI, vol. 11(9), pages 1-14, April.
    6. Yao, Jun & Oppewal, Harmen, 2016. "Unit Pricing Increases Price Sensitivity Even When Products are of Identical Size," Journal of Retailing, Elsevier, vol. 92(1), pages 109-121.
    7. Schmidt, Karolin & Kösling, Philipp & Bamberg, Sebastian & Blöbaum, Anke, 2022. "A Prospect Theory-based experimental vignette methodology for exploring rebound effects and rebound-damping interventions," Ecological Economics, Elsevier, vol. 193(C).
    8. Jun Yao & Harmen Oppewal & Di Wang, 2020. "Cheaper and smaller or more expensive and larger: how consumers respond to unit price increase tactics that simultaneously change product price and package size," Journal of the Academy of Marketing Science, Springer, vol. 48(6), pages 1075-1094, November.
    9. Sheehan, Daniel & Hardesty, David M. & Ziegler, Alexander H. & Chen, Haipeng (Allan), 2019. "Consumer reactions to price discounts across online shopping experiences," Journal of Retailing and Consumer Services, Elsevier, vol. 51(C), pages 129-138.
    10. Naseer Ahmad & Ali Raza Elahi, 2023. "The Effectiveness of Promotion through Brochure Advertising on Merchandise Sales: A Case Study of Multiple Retail Stores of Pakistan," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 9(2), pages 732-740.
    11. Zhu, Zhiwen & Behe, Bridget & Huddleston, Patricia & Sage, Lynnell, 2017. "How do pricing and the representation of price affect consumer evaluation of nursery products? A conjoint analysis," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 20(4), March.
    12. 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.
    13. Mao, Zhixin & Duan, Yongrui & Liu, Wenxia, 2023. "Consumers’ choice of private label considering reference price and moderating effect," Journal of Retailing and Consumer Services, Elsevier, vol. 71(C).

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