Multiple market moralities: identifying distinct patterns in how consumers evaluate the fairness of price changes

2020 ◽  
Author(s):  
Erin Metz McDonnell ◽  
Dustin S Stoltz ◽  
Marshall A Taylor
Keyword(s):  
Online Survey ◽  
Free Market ◽  
Price Change ◽  
Domain Specificity ◽  
Change Scenario ◽  
Pricing Strategies ◽  
Average Response ◽  
Market Pricing ◽  
Economic Psychology ◽  
Moral Schemas

Abstract The default position in economic psychology is that consumers evaluate the fairness of firms' pricing strategies based on a widely shared schema of market morality, operationalized by analysing the average response within a respondent pool to a given price-change scenario. Conversely, drawing on economic and cultural sociology, we argue that there are multiple, distinctive schemas that pattern consumers’ moral evaluation of market pricing practices. We identify distinctive moral schemas by replicating and reanalysing scenarios from the foundational study of the fairness in pricing field (Kahneman et al., 1986) with a new online survey of American adults. Using correlational class analysis, we find respondents orient to one of four different configurations of moral judgement about price-change fairness: dual-entitlement principles, free-market proponents (and opponents), retail-labour domain specificity and procedural (un)fairness. This research gives analysts new tools for more precisely specifying variation in consumer moral sentiment and raises new questions about the causes, consequences and contours of multiple market moralities.

Laissez-Faireism for Africa?

1987 ◽  
Vol 25 (1) ◽  
pp. 129-138 ◽  
Author(s):  
Sayre P. Schatz
Keyword(s):  
Exchange Rates ◽  
Free Market ◽  
Supply And Demand ◽  
Import Substitution ◽  
Market Pricing ◽  
The North ◽  
Factor Markets ◽  
International Transactions ◽  
Profit Incentives

There are fads in development economics,1 and the latest today, at least in the North, is what may be called laissez-faireism. This states the belief that a retreat from government activism in economic affairs is the major means of improving the quality of a country's performance. It is seen as ‘central to the solution of a lot of the problems we see around the world’.2Such a strategy stresses the benefits of reliance on markets, on profit incentives, and on the growth of private sectors. Free-market pricing is crucial not only for products (in Africa, particularly agricultural products), but also in factor markets and in international transactions. Wages should be allowed to find their own level, as determined by supply and demand. Exchange rates should also be permitted to approach their natyral levels, for artificially over-valued exchange rates are especially damaging. Tariffs and other forms of protection should be cut back. Countries should turn away from inward-looking import-substitution towards outward-looking export-orientation. 3

scholarly journals Pricing Strategies In High-Inflation Markets: Implications For The Multinational Corporation

2011 ◽  
Vol 9 (1) ◽  
pp. 44
Author(s):  
Alphonso O. Ogbuehi
Keyword(s):  
Multinational Corporation ◽  
Multinational Firms ◽  
Pricing Strategies ◽  
Market Demand ◽  
Internal Factors ◽  
Government Regulations ◽  
Market Pricing ◽  
Easy Task ◽  
Pricing Decision ◽  
High Inflation

The pricing decision of multinational firms directly affects their ability to competitively remain in a high-inflation market. Pricing, never an easy task, involves many factors such as competition, market demand, government regulations, and internal factors. However, when the firm must set price within a high-inflation market, these factors become compounded. A framework for formulating pricing strategies in high-inflation markets is proposed.

scholarly journals A journal cancellation survey and resulting impact on interlibrary loan

2017 ◽  
Vol 104 (4) ◽  
Author(s):  
Jacob L. Nash, MSLIS, AHIP ◽  
Karen R. McElfresh, MSLS, AHIP
Keyword(s):  
Full Text ◽  
Online Survey ◽  
Health Sciences ◽  
Free Text ◽  
Electronic Journal ◽  
Biomedical Journal ◽  
Average Response ◽  
Electronic Journals ◽  
Interlibrary Loan ◽  
Electronic Survey

Objective: The research describes an extensible method of evaluating and cancelling electronic journals during a budget shortfall and evaluates implications for interlibrary loan (ILL) and user satisfaction.Methods: We calculated cost per use for cancellable electronic journal subscriptions (n=533) from the 2013 calendar year and the first half of 2014, cancelling titles with cost per use greater than $20 and less than 100 yearly uses. For remaining titles, we issued an online survey asking respondents to rank the importance of journals to their work. Finally, we gathered ILL requests and COUNTER JR2 turnaway reports for calendar year 2015.Results: Three hundred fifty-four respondents completed the survey. Because of the level of heterogeneity of titles in the survey as well as respondents’ backgrounds, most titles were reported to be never used. We developed criteria based on average response across journals to determine which to cancel. Based on this methodology, we cancelled eight journals. Examination of ILL data revealed that none of the cancelled titles were requested with any frequency. Free-text responses indicated, however, that many value free ILL as a suitable substitute for immediate full-text access to biomedical journal literature.Conclusions: Soliciting user feedback through an electronic survey can assist collections librarians to make electronic journal cancellation decisions during slim budgetary years. This methodology can be adapted and improved upon at other health sciences libraries.

Service Pricing In Bulgaria

2021 ◽  
Vol 13 (2) ◽  
Author(s):  
Tatyana Netseva-Porcheva ◽  
Keyword(s):  
Empirical Research ◽  
Online Survey ◽  
Price Increase ◽  
Pricing Strategies ◽  
Service Pricing ◽  
Pricing Factors

The article aims to find out how companies operating in Bulgaria determine the prices of their services. In this regard, a review is carried out of the theoretical and empirical research on service pricing, and the results are presented from an online survey including 100 managers/marketing directors of companies that operate in Bulgaria and offer services. The article establishes the pricing factors of substantial importance for the companies in the sector of services, the most common pricing objectives, as well as which pricing strategies, methods and tactics are applied. In addition, the most common reasons for price increase or reduction are considered.

Personal values and relational models

2008 ◽  
Vol 22 (7) ◽  
pp. 609-628 ◽  
Author(s):  
Pascal Biber ◽  
Jörg Hupfeld ◽  
Laurenz L. Meier
Keyword(s):  
Online Survey ◽  
Personal Values ◽  
Well Being ◽  
Value Systems ◽  
Relational Models ◽  
Market Pricing ◽  
Web Based ◽  
Circular Structure ◽  
Relational Models Theory ◽  
Communal Sharing

In this study, the comprehensive value research by Schwartz (e.g. 1992) was linked to Fiske's relational models theory (RMT, e.g. Fiske, 1991). A sample of 297 people answered the personal values questionnaire (PVQ), the modes of relationship questionnaire (MORQ) and the relationship profile scale (RPS) in a web‐based online survey. As hypothesized, the set of 10 values correlated in a systematic manner—according to the circular structure of personal value systems—with both trait‐like construal of and motivational investment in the relational models communal sharing (CS), authority ranking (AR) and market pricing (MP). Further research concerning a person–environment value congruency approach to predict well‐being is suggested combining the two research traditions. Copyright © 2008 John Wiley & Sons, Ltd.

Pricing strategies for resort fees: consumer preferences favor simplicity

2015 ◽  
Vol 27 (5) ◽  
pp. 790-809 ◽  
Author(s):  
Toni Repetti ◽  
Susan Roe ◽  
Amy Gregory
Keyword(s):  
Conjoint Analysis ◽  
Online Survey ◽  
Consumer Preferences ◽  
Pricing Strategies ◽  
Content Type ◽  
Partitioned Pricing ◽  
Pricing Research ◽  
A La Carte Pricing ◽  
Limited Choice ◽  
Mandatory Fees

Purpose – The purpose of this study is twofold: to determine hotel customers’ preference among hotel amenities pricing strategies, specifically a bundled, all-inclusive charge in the form of a resort fee, a limited choice resort fee at a lower price or a la carte pricing, and to determine whether hotel customer prefer bundled or partitioned pricing when faced with a mandatory resort fee. Design/methodology/approach – An online survey of participants aged 18 years and older who had taken an overnight leisure trip in the past six months is conducted. A fixed-choice set conjoint analysis is performed to analyze the 353 usable surveys. Findings – Results of this conjoint analysis show that 67 per cent of respondents prefer bundled pricing over partitioned pricing. Respondents also show higher utility for no resort fee and paying for amenities based on usage instead of being forced to pay a mandatory resort fee. Practical implications – Guest preferences for pricing strategies can provide hotel operators with valuable information on how to establish pricing structures. Results suggest that hotel operators could benefit from presenting a bundled price inclusive of room rates and mandatory fees. Originality/value – This is the only known study that examines mandatory fees in which customers receive additional amenities or services in exchange for an additional surcharge. This study also adds to the literature on pricing research in the hospitality industry.

scholarly journals Examining the Impact of Oil Price Change on the Economy through GDP Change

2019 ◽  
Vol 9 (2) ◽  
pp. 149-159
Author(s):  
Zoltán Szira ◽  
Alghamdi Hani ◽  
Erika Varga
Keyword(s):  
Negative Impact ◽  
Price Change ◽  
Oil Prices ◽  
Oil Price ◽  
Pricing Strategies ◽  
Price Variation ◽  
Energy Demands ◽  
Petroleum Resources ◽  
Petroleum Economics ◽  
The Impact

Petroleum economics is the field that studies human utilization of petroleum resources and the consequences of that utilization. Petroleum use allows the production of energy. Resources can be regarded as renewable or depletable; petroleum falls into the latter category, which can have an effect on pricing strategies. Crude oil is one of the main natural feedstocks used to meet energy demands and price variation has a significant influence on the society development. A large amount of research suggests that oil price fluctuations have considerable consequences on economic activity. These consequences are expected to be different in oil importing and in oil exporting countries. Whereas an oil price increase should be considered positive news in oil exporting countries and negative news in oil importing countries, the reverse should be expected when the oil price decreases. The paper investigates the co-movements and causality relationship between oil prices and GDP of selected oil exporting countries. Our assumption is decreasing oil prices have a negative impact on the GDP of such countries.

Sign in / Sign up

Export Citation Format

Share Document