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Book synopsis

The most common understanding of reference price is§the price against which consumers evaluate the actual§price of the products they are considering to§purchase. Reference price is an essential component§of price judgment, which in turn is an important§element of pricing decisions. The impact of price§change on reference price has received substantial§attention in the literature. In spite of the§extensive research available on reference pricing,§the nature and the manner in which people form§reference prices is still not well understood. This§book provides additional insight into the nature of§the reference prices as well as into how consumers§use them to make price assessments when assessing§rapidly changing prices. In particular, this book§seeks answers to how and why the magnitude of the§price changes affect reference prices. In addition,§this book aims to provide a better understanding of§the price perceptions measured as gains or losses§from the reference price in a fluid pricing environment.

Book details

Book category Books in English Economics, finance, business & management Economics

• Full title: Price Volatility and Reference Price
• Subtitle: The Effects on the Formation of Reference Price
• Author: Milan Milasinovic
• Language: English
• Binding: Paperback
• Number of pages: 128
• EAN: 9783639085358
• ISBN: 3639085353
• ID: 06817710
• Publisher: VDM Verlag Dr. Mueller E.K.
• Weight: 181 g
• Dimensions: 229 × 152 × 7 mm
• Date of publishing: 02. October 2008

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