The issue of “power” in the marketing channels for consumer products has received considerable attention in both academic and practitioner journals as well as in the popular press. Our objective in this paper is to provide an empirical method to measure the power of channel members and to...

We examine two questions: Does the roundness or precision of prices bias magnitude judgments? If so, do these biased judgments affect buyer behavior? Results from five studies suggest that buyers underestimate the magnitudes of precise prices. We term this the precision effect. The first three...

Normative models typically suggest that prices rise in periods of high demand and cost. However, in many markets, prices fall when demand or costs rise. This inconsistency occurs because the normative models assume that competitive intensity does not change with demand and cost conditions over...