Reference price theories have dominated research into how consumers evaluate prices and make price-based choices. Given the widespread acceptance of reference price theories, it is notable that so little consideration has been given to what happens when the central assumption of these theories...

An important decision that retailers make involves selecting the number of items comprising their assortments. A key issue in making these decisions concerns the role that assortment size plays in determining consumers' choice of a retailer. We address this issue by investigating how consumer...