Reference Price and Its Asymmetric Effects on Price Evaluations: The Moderating Role of Gender

Choi, Choongbeom; Joe, Sung Jun; Mattila, Anna S.

doi:10.1177/1938965517719266

Cited by 29 publications

(29 citation statements)

References 25 publications

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“…The reference price was used as a starting point since this concept plays an important role in the construction of consumers’ WTP [26–28]. Consumers use reference prices as a threshold to evaluate the selling price of products, which on its turn impacts subsequent purchase decisions [29–31]. In general, there is consensus that two types of reference prices can be dissociated from one another: external and internal reference prices [32].…”

Section: Introductionmentioning

confidence: 99%

“…In general, there is consensus that two types of reference prices can be dissociated from one another: external and internal reference prices [32]. While external reference prices refer to the prices of competing brands encountered while shopping [31,32], internal reference prices are prices constructed within the memories of consumers. This internal construct results out of previous encounters with similar products and their prices [33].…”

Section: Introductionmentioning

confidence: 99%

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Beyond asking: Exploring the use of automatic price evaluations to implicitly estimate consumers’ willingness-to-pay

et al. 2019

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Explicit consumers responses are often adverse for the validity of procedures used to estimate consumers’ willingness-to-pay (WTP). This paper investigates if price evaluations occur automatically and to what extent these automatic processes can be used to implicitly estimate consumers’ WTP. An adapted version of the task-rule congruency (TRC) paradigm was used in two studies. Results of the first study provided evidence for the notion that prices are automatically evaluated. However, the used procedure had limitations that restricted its utility as an implicit WTP estimate. The procedure was adjusted, and an additional study was conducted. The results of the second study also indicated that prices were evaluated automatically. Additionally, the procedure used during the second study allowed to explore to what extent the observed TRC effects could be used to implicitly estimate consumers’ WTP. Taken together, these studies provided evidence for the notion that prices are evaluated automatically. Furthermore, the procedure has the potential to be further developed into an implicit estimate of consumers’ WTP.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Beyond asking: Exploring the use of automatic price evaluations to implicitly estimate consumers’ willingness-to-pay

et al. 2019

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“…The higher use of the internal reference price compared to the external reference price is more common among loyal customers and among those who prefer to buy from the hotel's website rather than from other websites (Karande and Magnini, 2011). In addition, while men rely more on the internal reference price, women rely on the external one (Choi, Joe and Mattila, 2018).…”

Section: Discussionmentioning

confidence: 99%

The Fairness of Pricing Tactics for Hotels: Perceptions of Romanian Customers

Suclea¹,

VrĢnceanu²,

Năstase³

2018

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This study focuses on analysing the perceptions of pricing tactics the hotels from Romania use, and also on the degree of influence these perceptions have on buying intentions. Given the importance of perceived fairness, it is essential to understand the major factors that influence customers' perception of the fairness of prices set by revenue management methods. A nationwide survey was conducted to identify the perception of fairness of the price setting methods, the perception of price fairness in relation to certain factors of influence, the perceived fairness of different pricing tactics, and the evaluation of price fairness for the latest experience in a hotel and the influence on the purchasing intentions. Structural equation modelling was used to assess the influence of distributive and procedural fairness on the perceived value and the buying intentions. The resulting model essentially shows that tourists who perceive a price as fair are inclined to consider the method used to set that price as correct. The main findings regarding revenue management-type approaches emphasize that the price setting method oriented on competition is considered the fairest method for setting prices. Most survey participants believe that the most frequent situation of unfair price is found in accommodation services. Among the unfair pricing tactics are, on the one hand the difference of prices based on the nationality of the customers (higher prices for tourists from abroad) and, on the other hand, the 9-ending prices. Offering lower prices for longer periods and for larger groups represents the fairest pricing tactics that hotels can use. The manners in which Romanian customers use to rate price fairness for hotel services mainly relies on the comparison of the current price to a previous one, and on their own belief of what fair price should be. The managerial implication of this study is linked to the setting prices decisions in order to be perceived as fair prices/tariffs.

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“…A common conceptualization views reference price as a predictive price expectation that is shaped by consumers’ prior experience and current purchase environment. As argued by Choi [55], reference price represents a consumer’s product evaluation and it is influenced by various factors such as price (including the historical price, the suggested retail price, the rival product’s price, etc. ), quantity, advertisement.…”

Section: Literature Reviewmentioning

confidence: 99%

Healthcare Supply Chain Network Coordination Through Medical Insurance Strategies with Reference Price Effect

Gao

Wang

2019

IJERPH

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China has established the universal medical insurance system and individual out of pocket costs have decreased, however, the average healthcare expenditure of the Chinese population and the expenses of the whole society have increased substantially. One major challenge which impedes the progress of attaining sustainable development of the social healthcare system in China is that the number of hospital admissions is disproportionate. Superior hospitals are overcrowded, whereas subordinate hospitals are experiencing low admissions. In this paper, we apply the game theory model to coordinate the healthcare supply chain network, which is composed of the government, medical insurance fund, superior hospitals, subordinate hospitals and patients. Especially by taking the reference price effect into account, this paper analyzes different medical insurance reimbursement strategies and their influence on patient choice and the healthcare supply chain network. The result shows that the reference price effect increases the leverage of medical insurance, guides patients’ choice, optimizes the allocation of medical resources and reduces the medical expends. In comparison to a decentralized decision- making strategy, a centralized decision- making strategy can stimulate both superior hospital and subordinate hospital’s cooperative intentions which benefits the social healthcare system.

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Reference Price and Its Asymmetric Effects on Price Evaluations: The Moderating Role of Gender

Cited by 29 publications

References 25 publications

Beyond asking: Exploring the use of automatic price evaluations to implicitly estimate consumers’ willingness-to-pay

Beyond asking: Exploring the use of automatic price evaluations to implicitly estimate consumers’ willingness-to-pay

The Fairness of Pricing Tactics for Hotels: Perceptions of Romanian Customers

Healthcare Supply Chain Network Coordination Through Medical Insurance Strategies with Reference Price Effect

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