Effects of Seller-Supplied Prices on Buyers' Product Evaluations: Reference Prices in an Internet Auction Context.
A field experiment investigated the impact of two external reference points under the seller's control on the final price of an auction. When an item's seller specified a high external reference price (a reserve price), the final bid was greater than when the seller specified a low external reference price (a minimum bid). When the seller provided both high and low reference prices, the reserve influenced the final bid more. The low reference price led to a lower outcome compared to when the seller did not communicate any reference price. The number of bidders influenced outcomes in the absence of seller-supplied reference prices. Copyright 2004 by the University of Chicago.
Year of publication: |
2004
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Authors: | Kamins, Michael A ; Dreze, Xavier ; Folkes, Valerie S |
Published in: |
Journal of Consumer Research. - University of Chicago Press. - Vol. 30.2004, 4, p. 622-28
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Publisher: |
University of Chicago Press |
Saved in:
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