Individual differences in the susceptibility of biases relevant in price management: a state-of-the-art article

Dominic Bergers ()
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Dominic Bergers: WHU – Otto Beisheim School of Management, Chair of Strategy and Marketing

Journal of Revenue and Pricing Management, 2021, vol. 20, issue 4, No 12, 497-528

Abstract: Abstract The focus of this paper is to link two subjects that at first glance seem to have only little in common: decision-making in price management and cross-context individual differences in the susceptibility to biases. Individual differences have largely been ignored in research so far. It is striking that clear lines of research are difficult to identify, whereby these missing connections make future research much more difficult. In order to counteract this, we provide a comprehensive review of the literature on individual differences through cognitive biases focussing on five biases that can be presumed as relevant for the price management process.

Keywords: Individual differences; Biases; Heuristics; Price management (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1057/s41272-020-00270-2

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