Perceived price differences and consumer behavior.

Monroe, Kent B.

doi:10.1037/0000262-030

Cited by 2 publications

(1 citation statement)

References 61 publications

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“…According to the adaptation‐level theory, individuals' perception and judgment of a stimulus depend on the intensity of stimulation and the current adaptation level, where the adaptation‐level price is defined as the geometric mean of all previously observed stimuli, the mean of market prices, or the average of the range of prices for similar products. This concept is derived from the adaptation‐level theory (Helson, 1964; Monroe, 2022). Therefore, in a pricing context, price perception depends on the actual price, as well as the individual's IRP or the adaptation‐level price (Lalwani et al, 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

Exploring the price anchoring effect in mobile commerce: An experimental study

Lin

Chen

2022

Manage Decis Econ

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This study explores the influence of external reference price and store brand awareness on consumers' internal reference price, transaction utility, purchase intention, and search intention in mobile commerce. A 3 × 2 two‐factor experimental design for both utilitarian and hedonic products was adopted to collect the sample data. A total of 189 valid responses were analyzed using a MANOVA approach. The results indicate that for the utilitarian product context, external reference price affects consumers' internal reference price, transaction utility, and purchase intention but does not affect search intention and that store brand awareness affects consumers' internal reference price, transaction utility, purchase intention, and search intention. Further, store brand awareness has a moderating effect on the relationship between external reference price and internal reference price. For the hedonic product context, external reference price affects consumers' internal reference price and transaction utility but does not affect purchase intention or search intention, while store brand awareness affects consumers' internal reference price, transaction utility, purchase intention, and search intention. Also, store brand awareness has a moderating effect on the relationship between external reference price and search intention. These findings provide several important theoretical and practical implications for mobile commerce pricing decisions.

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Section: Literature Reviewmentioning

confidence: 99%

Exploring the price anchoring effect in mobile commerce: An experimental study

Lin

Chen

2022

Manage Decis Econ

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Math anxiety effects on consumer purchase decisions: the role of framing

Andersen,

Weisstein,

Monroe

2024

Mark Lett

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Mathematics anxiety, an emotional state resulting in negative responses to math problems and numerical information, has been extensively studied in educational psychology. Research on the impact of math anxiety on consumer purchase decisions, however, is still in its nascent stages. This paper examines the interaction between math anxiety and different promotion framing formats on consumers’ perceived savings, price acceptability, and purchase decisions. Across two studies, we demonstrate that consumers with varying levels of math anxiety respond differently to various promotion frames: a gain versus a reduced loss and a single discount versus multiple discounts. We further show that consumers with insufficient math ability may experience negative affect and heighten math anxiety, particularly when faced with numerical and arithmetic tasks commonly encountered while shopping.

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Perceived price differences and consumer behavior.

Abstract: We begin with the premise that a price, similar to other physical stimuli such as light or sound, is a stimulus of consumer behavior. In 1738, Daniel Bernoulli (1738 suggested each equal

Cited by 2 publications

References 61 publications

Exploring the price anchoring effect in mobile commerce: An experimental study

Exploring the price anchoring effect in mobile commerce: An experimental study

Math anxiety effects on consumer purchase decisions: the role of framing

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