Introduction The psychology of pricing has two main divisions. On the one hand, there is the psychology of the price setter, an interesting field which offers much scope for further research, and on the other hand we have the psychology of the customer. Since pricing is unlikely to lead to...

Introduction Most members of the British public faced Decimal Day, Monday 15 February 1971, with some apprehension. The fears were based on the alleged difficulty of understanding the decimal system, and on the suspicion that both manufacturers and shopkeepers would use D‐Day as an opportunity...

This chapter takes as its starting point the proposition that consumers are, by and large, far more rational in their attitudes and behaviour than suggested by most of the people who keep crying out for greater consumer protection, and also by some marketing men who seek to explain away their...

Klaus Schmidbauer presented a paper entitled “On the Price Structure in Consumer Markets: Results of a Secondary Analysis of Price Comparisons of Consumer Durables”. The paper analysed price data on consumer durables collected by the German Institut für angewandte Verbraucherforschung in...

“In the provision of terminology and apparatus to aid thought I do not think that Marshall did economists any greater service than by the explicit introduction of the idea of ‘elasticity’.”