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Spatial Competition on Psychological Pricing Strategies: Preliminary Evidence from an Online Marketplace

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  • Magdalena Schindl
  • Felix Reichel

Abstract

According zu Kadir et al. (2023) online marketplaces are used to buy and sell products and services, as well as to exchange money and data between users or the platform. Due to the large product selection, low costs and the ease of shopping without physical restrictions as well as the technical possibilities, online marketplaces have grown rapidly Kadir et al. (2023). Online marketplaces are also used in the consumer-to-consumer (C2C) sector and thus offer a broad user group a marketplace, for example for used products. This article focuses on Willhaben.at (2024), a leading C2C marketplace in Austria, as stated by Obersteiner, Schmied, and Pamperl (2023). The empirical analysis in this course essay centers around the offer ads of Woom Bikes, a standardised product which is sold on Willhaben. Through web scraping, a dataset of approximately 826 observations was created, focusing on mid-to-high price segment bicycles, which are characterized by price stability and uniformity as we claim. This analysis aims to create analyse ad listing prices through predictive models using willhaben product listing attributes and using the spatial distribution of one of the product attributes.

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  • Magdalena Schindl & Felix Reichel, 2024. "Spatial Competition on Psychological Pricing Strategies: Preliminary Evidence from an Online Marketplace," Papers 2411.07808, arXiv.org, revised Nov 2024.
    • Handle: RePEc:arx:papers:2411.07808
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    1. Ortega, Ana M. & Tabares, Felipe A., 2023. "Psychological pricing: Myth or reality? The impact of nine-ending prices on purchasing attitudes and brand revenue," Journal of Retailing and Consumer Services, Elsevier, vol. 71(C).
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