The Role of Reference Price in Gift Registry Fulfillment : Empirical and Experimental Evidence
The authors examine the role of reference prices in a unique form of gift giving behavior - gift registries. A Hierarchical Bayesian analysis of fulfillment data from 555 online wedding registries and results from a laboratory experiment reveal that gift fulfillment probability follows a bimodal distribution around the average price of a gift registry. This is consistent with the hypothesis that gift purchases in the context of gift registries are driven by the average price of the registry, which serves as the reference price, and two competing motivations among gift givers: a desire for social benefits (e.g., to enhance relationship) and a desire for monetary benefits (e.g., to save money). The former motivation favors gift items with higher than average prices whereas the latter favors those with lower than average prices. This finding is robust after controlling for gift budget and relationship with the recipient. Our analysis also indicates that higher reference prices in the form of average price of the registry increase total gift spending from a registry, but only when gift givers are casual acquaintances to the recipient
Year of publication: |
[2010]
|
---|---|
Authors: | Hu, Ye |
Other Persons: | Wang, Xin (contributor) ; Oh, Yun Kyung (contributor) ; Zhao, Shenghui (contributor) ; Robinson, William (contributor) |
Publisher: |
[2010]: [S.l.] : SSRN |
Subject: | Experiment | Konsumentenverhalten | Consumer behaviour |
Saved in:
freely available
Extent: | 1 Online-Ressource (40 p) |
---|---|
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 13, 2008 erstellt |
Other identifiers: | 10.2139/ssrn.1300979 [DOI] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012715613
Saved in favorites
Similar items by subject
-
Social responsibility in market interaction
Irlenbusch, Bernd, (2015)
-
Clumped or piecewise? : evidence on preferences for information
Zimmermann, Florian, (2015)
-
An experimental study on the effect of brand and brand extension on omission neglect
Lopes, Evandro Luiz, (2014)
- More ...
Similar items by person