TY - JOUR
T1 - All numbers are not created equal
T2 - Price points, price processing and price rigidity
AU - Chen, Haipeng Allan
AU - Snir, Avichai
AU - Levy, Daniel
AU - Gotler, Alex
PY - 2012
Y1 - 2012
N2 - One common type of price points is 9-ending prices, also known as psychological prices (Kashyap 1995; Levy et al. 2011; Knotek 2010). In the current research, we use data from a lab experiment, a field study, and a large Midwestern US supermarket chain to study the rigidity of 9-ending prices. Our results demonstrate a hitherto undocumented asymmetry in rigidity associated with 9-ending prices, and provide a link between consumers' cognitive costs and pricing policies that have significant effects on demand and inflation.
AB - One common type of price points is 9-ending prices, also known as psychological prices (Kashyap 1995; Levy et al. 2011; Knotek 2010). In the current research, we use data from a lab experiment, a field study, and a large Midwestern US supermarket chain to study the rigidity of 9-ending prices. Our results demonstrate a hitherto undocumented asymmetry in rigidity associated with 9-ending prices, and provide a link between consumers' cognitive costs and pricing policies that have significant effects on demand and inflation.
UR - http://www.scopus.com/inward/record.url?scp=84883699592&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84883699592&partnerID=8YFLogxK
M3 - Article
AN - SCOPUS:84883699592
SN - 0098-9258
VL - 40
SP - 637
EP - 639
JO - Advances in Consumer Research
JF - Advances in Consumer Research
ER -