Ruffle, Bradley J.; Ze'ev Shtudiner - In: Managerial and Decision Economics 27 (2006) 6, pp. 459-475
There exist numerous theories that attempt to explain the ubiquitous 99-cent price ending. Most of these theories either do not hold up to inspection or posit irrational consumers who serve as a money pump for firms. We offer an experimental test of Basu's (Econ. Lett. 1997; 54:41-44) rational...