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  1. Zero-ending prices, cognitive convenience, and price rigidity
    Author: Snir, Avichai; Chen, Haipeng; Levy, Daniel C.
    Published: [2022]
    Publisher:  Rimini Centre for Economic Analysis, [Waterloo, Ontario]

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 714
    Inter-library loan:
    No inter-library loan
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Edition: Last Revision: October 2, 2022
    Series: Working paper series / Rimini Centre for Economic Analysis ; wp 22, 12
    Subjects: Cognitive Convenience; Transaction Convenience; Price Rigidity; PriceStickiness; Sticky Prices; Rigid Prices; 0-Ending Prices; Round Prices; Convenient Prices; 9-Ending Prices; Just Below Prices; Psychological Prices; Price Points
    Scope: 1 Online-Ressource (circa 90 Seiten, Illustrationen
  2. Zero-ending prices, cognitive convenience, and price rigidity
    Author: Snir, Avichai; Chen, Haipeng; Levy, Daniel C.
    Published: [2022]
    Publisher:  Bar Ilan University, Department of Economics, Ramat-Gan, Israel

    We assess the role of cognitive convenience in the popularity and rigidity of 0-ending prices in convenience settings. Studies show that 0-ending prices are common at convenience stores because of the transaction convenience that 0-ending prices... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 205
    Inter-library loan:
    No inter-library loan

     

    We assess the role of cognitive convenience in the popularity and rigidity of 0-ending prices in convenience settings. Studies show that 0-ending prices are common at convenience stores because of the transaction convenience that 0-ending prices offer. Using a large store-level retail CPI data, we find that 0-ending prices are popular and rigid at convenience stores even when they offer little transaction convenience. We corroborate these findings with two large retail scanner price datasets from Dominick's and Nielsen. In the Dominick's data, we find that there are more 0-endings in the prices of the items in the front-end candies category than in any other category, even though these prices have no effect on the convenience of the consumers' check-out transaction. In addition, in both Dominick's and Nielsen's datasets, we find that 0-ending prices have a positive effect on demand. Ruling out consumer antagonism and retailers' use of heuristics in pricing, we conclude that 0-ending prices are popular and rigid, and that they increase demand at convenience settings, not only for their transaction convenience, but also for the cognitive convenience they offer.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/272977
    Edition: Last revision: October 2, 2022
    Series: [Working papers] / Bar-Ilan University, Department of Economics ; 2022, 07
    Subjects: Cognitive Convenience; Transaction Convenience; Price Rigidity; Price Stickiness; Sticky Prices; Rigid Prices; 0-Ending Prices; Round Prices; Convenient Prices; 9-Ending Prices; Just Below Prices; Psychological Prices; Price Points
    Scope: 1 Online-Ressource (circa 89 Seiten), Illustrationen