Some food items that are commonly considered unhealthy also tend to elicit impulsive responses. The pain of paying in cash can curb impulsive urges to purchase such unhealthy food products. Credit card payments, in contrast, are relatively painless and weaken impulse control. Consequently,...

Consumers' budgets are influenced by the temporal frame used for the budget period. Budgets planned for the next month are much lower than recorded expenses, while those for the next year are closer to recorded expenses (study 1). The difficulty of estimating budgets for the next year imparts...

Numerical precision – unusually precise or sharp numbers – can trigger heuristic processing and influence judgments. Numerical precision triggers heuristic processing because it causes computational difficulty or encoding difficulty. The authors propose that the discrepancy attribution model...

The author argues that subjective feelings, both mild cognitive feelings such as processing fluency and the feeling of knowing, as well as more intense emotional responses such as the pain of paying, play important roles in price psychology. Theoretical frameworks or models that do not...

Driven by the low transaction costs and interactive nature of the internet, customer participation in the price-setting process has increased. Today, platforms such as eBay have popularized online auctions on a global scale, Priceline has made headlines with its name-your-own-price (NYOP)...