Price sequences, perceived variability, and choice

Journal of Product and Brand Management

Volumn 22, Issue 4, 2013, Pages 314-321

  Dolansky, Eric ^a   Vandenbosch, Mark ^b  

^a BROCK UNIVERSITY   (Canada)

^b UNIVERSITY OF WESTERN ONTARIO   (Canada)

Author keywords

Consumer risk; Decision making; Price perception; Price positioning; Prices; Risk; Sales prices; Uncertainty management; Variability

Indexed keywords

EID: 84880154771     PISSN: 10610421     EISSN: None     Source Type: Journal    
DOI: 10.1108/JPBM-11-2012-0211     Document Type: Article

References (33)

1. Bernoulli, D. (1954), "Exposition of a new theory on the measurement of risk" in Econometrica, Vol. 22, January, pp. 23-36, originally published in 1738.
2. Camerer, C.F., Weber, M. (1992), "Recent developments in modelling preferences: uncertainty and ambiguity" in Journal of Risk and Uncertainty, Vol. 5, pp. 325-370.
3. Danziger, S., Segev, R. (2006), "The effects of informative and non-informative price patterns on consumer price judgments" in Psychology and Marketing, Vol. 23, June, pp. 535-553.
4. Dolansky, E., Vandenbosch, M. (2012), "Perceived variance and preference for sequences of outcomes" in Journal of Product & Brand Management, Vol. 21, pp. 285-292.
5. Einhorn, H., Hogarth, R.M. (1986), "Decision making under ambiguity" in Journal of Business, Vol. 59, October, pp. 225-250.
6. Ellsberg, D. (1961), "Risk, ambiguity, and the savage axioms" in Quarterly Journal of Economics, Vol. 75, pp. 643-699.
7. Fox, C.R., Tversky, A. (1995), "Ambiguity aversion and comparative ignorance" in Quarterly Journal of Economics, Vol. 110, pp. 585-603.
8. Gardenfors, P., Sahlin, N.E. (1982), "Unreliable probabilities, risk taking, and decision making" in Synthese, Vol. 53, pp. 361-386.
9. Gneezy, U., List, J.A., Wu, G. (2006), "The uncertainty effect: when a risky prospect is valued less than its worst possible outcome" in Quarterly Journal of Economics, Vol. 121, November, pp. 1283-1309.
10. Grewal, D. (2005), Keynote Address at the 3rd Annual Fordham Behavioural Pricing Conference, New York, NY.
11. Helson, H. (1964), Adaptation Level Theory, Harper & Row, New York, NY.
12. Janiszewski, C., Lichtenstein, D.R. (1999), "A range theory account of price perception" in Journal of Consumer Research, Vol. 25, March, pp. 353-364.
13. Kahneman, D., Tversky, A. (1979), "Prospect theory: an analysis of decisions under risk" in Econometrica, Vol. 47, March, pp. 313-327.
14. Kalyanaram, G., Winer, R.S. (1995), "Empirical generalizations from reference price research" in Marketing Science, Vol. 14, Summer, pp. 161-170.
15. Kopalle, P.K., Rao, A.G., Assuncao, J.L. (1996), "Asymmetric reference price effects and dynamic pricing policies" in Marketing Science, Vol. 15, Winter, pp. 60-85.
16. Kopalle, P.K., Biswas, D., Chintagunta, P.K., Fan, J., Pauwels, K., Ratchford, B.T., Sills, J.A. (2009), "Retailer pricing and competitive effects" in Journal of Retailing, Vol. 85, March, pp. 56-70.
17. Loewenstein, G. (1987), "Anticipation and the valuation of delayed consumption" in The Economic Journal, Vol. 97, September, pp. 666-684.
18. Loewenstein, G., Prelec, D. (1991), "Negative time preference" in The American Economic Review, Vol. 81, May, pp. 347-352.
19. Loewenstein, G., Prelec, D. (1992), "Anomalies in intertemporal choice: evidence and an interpretation" in Quarterly Journal of Economics, Vol. 107, May, pp. 573-597.
20. Loewenstein, G., Prelec, D. (1993), "Preferences for sequences of outcomes" in Psychological Review, Vol. 100, May, pp. 91-108.
21. Loewenstein, G., Sicherman, N. (1991), "Do workers prefer increasing wage profiles?" in Journal of Labor Economics, Vol. 9, January, pp. 67-84.
22. Markowitz, H.M. (1959), Portfolio Selection, Wiley, New York, NY.
23. Mazumdar, T., Raj, S.P., Sinha, I. (2005), "Reference price research: review and propositions" in Journal of Marketing, Vol. 69, October, pp. 84-102.
24. Parducci, A. (1965), "Category judgment: a range-frequency model" in Psychological Review, Vol. 72, November, pp. 407-418.
25. Raghubir, P., Das, S.R. (2010), "The long and short of it: why are stocks with shorter runs preferred?" in Journal of Consumer Research, Vol. 36, April, pp. 964-982.
26. Redelmeier, D.A., Kahneman, D. (1996), "Patients' memories of painful medical treatments: real-time and retrospective evaluations of two minimally invasive procedures" in Pain, Vol. 66, March, pp. 3-8.
27. Samuelson, P. (1937), "A note on measurement of utility" in Review of Economic Studies, Vol. 4, February, pp. 155-161.
28. Sharpe, W. (1964), "Capital asset prices: a theory of market equilibrium under conditions of risk" in Journal of Finance, Vol. 19, p. 425.
29. Volkman, J. (1951), "Scales of judgment and their implications for social psychology" in Rohrer, J.H. and Sherif, M. (Eds.), Social Psychology at the Crossroads, Harper & Row, New York, NY, pp. 273-294.
30. Weber, E.U., Shafir, S., Blais, A.R. (2004), "Predicting risk sensitivity in humans and lower animals: risk as variance or coefficient of variation" in Psychological Review, Vol. 111, pp. 430-445.
31. Mazumdar, T., Jun, S.Y. (1993), "Consumer evaluations of multiple versus single price change" in Journal of Consumer Research, Vol. 20, December, pp. 441-450.
32. Monroe, K.B. (1973), "Buyers' subjective perceptions of price" in Journal of Marketing Research, Vol. 10, February, pp. 70-80.
33. Zeithaml, V.A. (1988), "Consumer perceptions of price, quality, and value: a means end model and synthesis of evidence" in Journal of Marketing, Vol. 52, January, pp. 2-22.