All numbers are not created equal: Price points, price processing and price rigidity

Haipeng Allan Chen; Avichai Snir; Daniel Levy; Alex Gotler

All numbers are not created equal: Price points, price processing and price rigidity

Haipeng Allan Chen, Avichai Snir, Daniel Levy, Alex Gotler

Department of Economics

Bar-Ilan University

Research output: Contribution to journal › Article › peer-review

Abstract

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.

Original language	English
Pages (from-to)	637-639
Number of pages	3
Journal	Advances in Consumer Research
Volume	40
State	Published - 2012

All Science Journal Classification (ASJC) codes

Applied Psychology
Economics and Econometrics
Marketing

Cite this

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title = "All numbers are not created equal: Price points, price processing and price rigidity",

abstract = "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.",

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AU - Levy, Daniel

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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.

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M3 - مقالة

SN - 0098-9258

VL - 40

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EP - 639

JO - Advances in Consumer Research

JF - Advances in Consumer Research

ER -

All numbers are not created equal: Price points, price processing and price rigidity

Abstract

All Science Journal Classification (ASJC) codes

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