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Buyer and seller data from pay what you want and name your own price laboratory markets.

ABSTRACT: Pay What You Want (PWYW) and Name Your Own Price (NYOP) are customer-driven pricing mechanisms that give customers (some) pricing power and that have been used in service industries with high fixed costs to price discriminate without setting a reference price. This paper describes buyer and seller data in a series of induced-value laboratory experiments that compare PWYW and NYOP in monopoly and competitive situations. Sellers are in a one-shot interaction with buyers. Sellers using customer-driven pricing mechanisms may exogenously or endogenously receive additional promotional benefits, for instance through word-of-mouth effects. The major findings based on the data presented here are reported in the paper "Delegating Pricing Power to Customers: Pay What You Want or Name Your Own Price?" (Krämer et al., 2017) [3].

SUBMITTER: Kramer F

PROVIDER: S-EPMC5425341 | biostudies-literature | 2017 Jun

REPOSITORIES: biostudies-literature

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Buyer and seller data from pay what you want and name your own price laboratory markets.

Krämer Florentin F Schmidt Klaus M KM Spann Martin M Stich Lucas L

Data in brief 20170504

Pay What You Want (PWYW) and Name Your Own Price (NYOP) are customer-driven pricing mechanisms that give customers (some) pricing power and that have been used in service industries with high fixed costs to price discriminate without setting a reference price. This paper describes buyer and seller data in a series of induced-value laboratory experiments that compare PWYW and NYOP in monopoly and competitive situations. Sellers are in a one-shot interaction with buyers. Sellers using customer-dri ...[more]

PMID: 28516147

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