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An Empirical Analysis of Price Endings with Scanner Data.

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Title: An Empirical Analysis of Price Endings with Scanner Data.
Authors: Stiving, Mark1, Winer, Russell S.2
Source: Journal of Consumer Research. Jun97, Vol. 24 Issue 1, p57-67. 11p. 1 Diagram, 4 Charts.
Subject Terms: *Consumer behavior, *Prices, *Nine (The number), *Consumer research, *Decision making, *Psychology, *Consumer goods, *Consumer attitudes, *Choice (Psychology), *Pricing
Abstract: Several consumer behavior theories have been offered to explain the preponderance of prices that end in the digit 9. This study attempts to incorporate these proposed behaviors into the implicit utility function of consumer choice models, resulting in both a more accurate tool for managerial decision making and additional insights into how consumers actually behave toward price endings. An attempt is made to compensate for both level effects (those effects in which consumers may underestimate the value of a price) and image effects (those effects in which consumers may infer meaning from the right-hand digits). The models are estimated using scanner panel data for two frequently purchased products, tuna and yogurt. The results support the importance of accounting for the digits in consumer choice models, providing evidence for both image effects and level effects. [ABSTRACT FROM AUTHOR]
Database: Energy & Power Source
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PubType: Academic Journal
PubTypeId: academicJournal
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  Data: An Empirical Analysis of Price Endings with Scanner Data.
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  Data: <searchLink fieldCode="JN" term="%22Journal+of+Consumer+Research%22">Journal of Consumer Research</searchLink>. Jun97, Vol. 24 Issue 1, p57-67. 11p. 1 Diagram, 4 Charts.
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  Data: *<searchLink fieldCode="DE" term="%22Consumer+behavior%22">Consumer behavior</searchLink><br />*<searchLink fieldCode="DE" term="%22Prices%22">Prices</searchLink><br />*<searchLink fieldCode="DE" term="%22Nine+%28The+number%29%22">Nine (The number)</searchLink><br />*<searchLink fieldCode="DE" term="%22Consumer+research%22">Consumer research</searchLink><br />*<searchLink fieldCode="DE" term="%22Decision+making%22">Decision making</searchLink><br />*<searchLink fieldCode="DE" term="%22Psychology%22">Psychology</searchLink><br />*<searchLink fieldCode="DE" term="%22Consumer+goods%22">Consumer goods</searchLink><br />*<searchLink fieldCode="DE" term="%22Consumer+attitudes%22">Consumer attitudes</searchLink><br />*<searchLink fieldCode="DE" term="%22Choice+%28Psychology%29%22">Choice (Psychology)</searchLink><br />*<searchLink fieldCode="DE" term="%22Pricing%22">Pricing</searchLink>
– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: Several consumer behavior theories have been offered to explain the preponderance of prices that end in the digit 9. This study attempts to incorporate these proposed behaviors into the implicit utility function of consumer choice models, resulting in both a more accurate tool for managerial decision making and additional insights into how consumers actually behave toward price endings. An attempt is made to compensate for both level effects (those effects in which consumers may underestimate the value of a price) and image effects (those effects in which consumers may infer meaning from the right-hand digits). The models are estimated using scanner panel data for two frequently purchased products, tuna and yogurt. The results support the importance of accounting for the digits in consumer choice models, providing evidence for both image effects and level effects. [ABSTRACT FROM AUTHOR]
PLink https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=enr&AN=9708061115
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        Value: 10.1086/209493
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        Text: English
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        PageCount: 11
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      – SubjectFull: Consumer behavior
        Type: general
      – SubjectFull: Prices
        Type: general
      – SubjectFull: Nine (The number)
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      – SubjectFull: Consumer research
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      – SubjectFull: Decision making
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      – SubjectFull: Psychology
        Type: general
      – SubjectFull: Consumer goods
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      – SubjectFull: Consumer attitudes
        Type: general
      – SubjectFull: Choice (Psychology)
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      – SubjectFull: Pricing
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      – TitleFull: An Empirical Analysis of Price Endings with Scanner Data.
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              Text: Jun97
              Type: published
              Y: 1997
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