Browse
Submit Data
Databases
API
Help

Dataset Information

21 Views

0 Connections

0 Citations

0 Reanalyses

0 Downloads

Omics score: 0

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

ACCESS DATA

Json Xml

Publications

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

Similar Datasets

Pay-what-you-want, identity, and self-signaling in markets.

Project description:We investigate the role of identity and self-image consideration under "pay-what-you-want" pricing. Results from three field experiments show that often, when granted the opportunity to name the price of a product, fewer consumers choose to buy it than when the price is fixed and low. We show that this opt-out behavior is driven largely by individuals' identity and self-image concerns; individuals feel bad when they pay less than the "appropriate" price, causing them to pass on the opportunity to purchase the product altogether.

| S-EPMC3358869 | biostudies-other

Price dynamics in political prediction markets.

Project description:Prediction markets, in which contract prices are used to forecast future events, are increasingly applied to various domains ranging from political contests to scientific breakthroughs. However, the dynamics of such markets are not well understood. Here, we study the return dynamics of the oldest, most data-rich prediction markets, the Iowa Electronic Presidential Election "winner-takes-all" markets. As with other financial markets, we find uncorrelated returns, power-law decaying volatility correlations, and, usually, power-law decaying distributions of returns. However, unlike other financial markets, we find conditional diverging volatilities as the contract settlement date approaches. We propose a dynamic binary option model that captures all features of the empirical data and can potentially provide a tool with which one may extract true information events from a price time series.

| S-EPMC2630077 | biostudies-literature

Understanding the first-offer conundrum: How buyer offers impact sale price and impasse risk in 26 million eBay negotiations.

Project description:How low is the ideal first offer? Prior to any negotiation, decision-makers must balance a crucial tradeoff between two opposing effects. While lower first offers benefit buyers by anchoring the price in their favor, an overly ambitious offer increases the impasse risk, thus potentially precluding an agreement altogether. Past research with simulated laboratory or classroom exercises has demonstrated either a first offer's anchoring benefits or its impasse risk detriments, while largely ignoring the other effect. In short, there is no empirical answer to the conundrum of how low an ideal first offer should be. Our results from over 26 million incentivized real-world negotiations on eBay document (a) a linear anchoring effect of buyer offers on sales price, (b) a nonlinear, quartic effect on impasse risk, and (c) specific offer values with particularly low impasse risks but high anchoring benefits. Integrating these findings suggests that the ideal buyer offer lies at 80% of the seller's list price across all products-although this value ranges from 33% to 95% depending on the type of product, demand, and buyers' weighting of price versus impasse risk. We empirically amend the well-known midpoint bias, the assumption that buyer and seller eventually meet in the middle of their opening offers, and find evidence for a "buyer bias." Product demand moderates the (non)linear effects, the ideal buyer offer, and the buyer bias. Finally, we apply machine learning analyses to predict impasses and present a website with customizable first-offer advice configured to different products, prices, and buyers' risk preferences.

| S-EPMC10410759 | biostudies-literature

Impacts of COVID-19 and Price Transmission in U.S. Meat Markets.

Project description:Coronavirus 2019 (COVID-19) has caused ongoing disruptions to U.S. meat markets via demand and supply-side shocks. Abnormally high prices have been reported at retail outlets and meat packers have been accused of unfair business practices because of widening price spreads. Processing facilities have experienced COVID-19 outbreaks resulting in shutdowns. Using weekly data on wholesale and retail prices of beef, pork, and poultry, we characterize the time series behavior and dynamic linkages of U.S. meat prices before the COVID-19 pandemic. We model vertical price transmission using both linear and threshold autoregressive (AR) models and vector error correction (VEC) models. With the estimated models, we then compare price movements under COVID-19 to model predictions. All three meat markets are well-integrated and we observe unexpected, large price movements in April and May of 2020. Early COVID-19 related shocks appear to be transitory with prices returning to expected levels at a pace consistent with the speed of transmission prior to the pandemic. This well-functioning market process suggests a degree of resilience in U.S. meat supply chains.

| S-EPMC8206949 | biostudies-literature

Cardiopulmonary Resuscitation-associated Lung Edema: The Price to Pay to Get the Heartbeat?

Project description: Not available

| S-EPMC7885848 | biostudies-literature

Do manufacturers of brand-name drugs engage in price competition? An analysis of introductory prices.

Project description: Not available

| S-EPMC1421463 | biostudies-literature

Stock and oil price returns in international markets: Identifying short and long-run effects

Project description:This paper examines how stock returns respond to oil prices with monthly data from 1990 to 2020 for 12 major economies: 6 oil-exporting countries and 6 oil-importing countries. Combining short and long-run empirical approaches in country-by-country analyses, we first document varying effects of oil price returns in the short-term, while increases in volatility (changes in VIX or geopolitical risk) have negative effects on stock markets. Dynamic OLS (DOLS) estimators show in the long-run positive oil price effects on stock markets for oil-exporters and relatively weaker negative evidence for oil-importers. Interest rate increases have strong negative effects in the long run. Panel analyses shed further light on these results along with structural breaks. Our findings suggest complementary insights from the DOLS long-run approach: oil prices and bond yields have expected signs and volatility has mixed effects on stock markets. Supplementary Information The online version contains supplementary material available at 10.1007/s12197-022-09602-x.

| S-EPMC9385097 | biostudies-literature

Early-Life Socioeconomic Circumstances and Physical Activity in Older Age: Women Pay the Price.

Project description:Health in older age is shaped by early-life socioeconomic circumstances (SECs) and sex. However, whether and why these factors interact is unclear. We examined a cultural explanation of this interaction by distinguishing cultural and material aspects of SECs in the context of physical activity-a major determinant of health. We used data from 56,331 adults between 50 and 96 years old from the Survey of Health, Ageing and Retirement in Europe (SHARE), a 13-year, large-scale, population-based cohort. Confounder-adjusted logistic linear mixed-effects models showed an association between the cultural aspects of early-life SEC disadvantage and physical activity among women, but it was not consistently observed in men. Furthermore, these associations were compensated for only partially by adult-life socioeconomic trajectories. The material aspects of early-life SECs were not associated with adult-life physical activity. These findings highlight the need to distinguish different aspects of SECs because they may relate to health behaviors in diverse ways.

| S-EPMC9096459 | biostudies-literature

Factors Forming the Consumers' Willingness to Pay a Price Premium for Ecological Goods in Ukraine.

Project description:This study discusses the identification of factors affecting consumers' willingness to pay a price premium for ecological goods. The study was carried out in selected regions of Ukraine, in the cities of Kharkiv and Kyiv. The study applied various research methods, in particular public opinion analysis based on conducted surveys and the statistical inference method. The conducted research may constitute the scientific basis for the assessment of this market segment development. The comparison of consumer attitudes, presented by the residents of major Ukrainian cities regarding environmental goods, revealed their willingness to pay a price premium depending primarily on the purchasing power of the population, but also on gender, age, and social status. The analysis of differences in the cross-tabulation of quality characteristics was performed using Pearson's chi-square test, which showed that, for example, men were more willing than women to choose environmental products due to their environmental safety and their selection was more often than in case of women based on environmental goods' price. The collected research results can be used to assess the development prospects of environmental goods' market, to construct the set of measures increasing the willingness level of domestic consumers to pay a price premium for ecological products, and to take up decisions about the production of ecological goods.

| S-EPMC6427680 | biostudies-other

Impact of global health crisis and oil price shocks on stock markets in the GCC.

Project description:This study examines the impact of global COVID-19 cases and oil price shocks on the stock markets in the GCC. Using the Kalman filter to generate the unexpected oil price shocks, we find that, with the exception of Oman, the GCC markets responded to positive and negative oil price shocks before and during the pandemic, with impacts of higher magnitude since March 11, 2020. We also find that the spread of global COVID-19 cases had in itself no meaningful impact on the GCC stock markets.

| S-EPMC8856895 | biostudies-literature

OmicsDI is part of the ELIXIR infrastructure

OmicsDI is an Elixir interoperability service. Learn more ›

Tweets

OmicsDI Databases

PRIDE
PeptideAtlas
MassIVE
JPOST Repository
Physiome Model Repository

EGA
EVA
ENA
LINCS
PAXDB
Cell Collective

MetaboLights
Metabolomics Workbench
MetabolomeExpress
GNPS
BioModels
FAIRDOMHub

ArrayExpress
dbGaP
ExpressionAtlas
GEO
NODE

Information

Databases
Help
API
Contact us
Code on GitHub
Terms of use
Submit Data