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Interrelationships and distinct effects of internal reference prices on perceived expensiveness and demand

✍ Scribed by Ellen Garbarino; Robert Slonim

Book ID
102490449
Publisher
John Wiley and Sons
Year
2003
Tongue
English
Weight
136 KB
Volume
20
Category
Article
ISSN
0742-6046

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✦ Synopsis

Abstract

Although the role of reference prices is widely accepted, what reference price people use in what evaluation has received little attention. This article proposes that the compatibility of framing determines what reference price is used in different evaluations. Specifically, it is found that the market‐framed fair reference price determines the market‐framed perception of expensiveness and that the personally framed reservation price determines the personally framed demand. Β© 2003 Wiley Periodicals, Inc.

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