We designed an experiment that examines how knowledge about the price of a good, and the time at which the information … is received, affects how the good is experienced. The good in question was wine, and the price was either high or low …. Our results suggest that hosts offering wine to guests can safely reveal the price: much is gained if the wine is …

In 3 experiments, we show that price-matching guarantees affect the process through which consumers translate price … information into subjective judgments. In Experiment 1, we find that price-matching guarantees appear to change the standard used … in price evaluation by raising consumers' estimates of the lowest and average prices in the market. This leads consumers …