Despite previous research, the effects of reference prices remain a controversial issue with significant public policy and managerial implications. The paper reports the results of a pilot study which was conducted in a shopping mall. With high involvement, research results suggest that reference prices, perceived quality, and product experience affect he price consumers are willing to pay for the product. With low involvement, the reference price was the only message content variable which had an affect on the price consumers were willing to pay for the product.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.