Levy, Daniel; Snir, Avichai; Gotler, Alex; Chen, … - In: Journal of Monetary Economics (2020) forthcoming
We document an asymmetry in the rigidity of 9-ending prices relative to non-9-ending prices. Consumers have difficulty … used as a signal for low prices. Price setters respond strategically to the consumer-heuristic by setting 9-ending prices … more often after price-increases than after price-decreases. 9-ending prices, therefore, remain 9-ending more often after …