Pay-what-you-want, identity, and self-signaling in markets.
Ontology highlight
ABSTRACT:
SUBMITTER: Gneezy A
PROVIDER: S-EPMC3358869 | biostudies-other | 2012 May
REPOSITORIES: biostudies-other
Publications
Pay-what-you-want, identity, and self-signaling in markets.
Gneezy Ayelet A Gneezy Uri U Riener Gerhard G Nelson Leif D LD
Proceedings of the National Academy of Sciences of the United States of America 20120423 19
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 t ...[more]
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