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Beyond Posted Prices: the Past, Present, and Future of Participative Pricing Mechanisms

Martin Spann, Robert Zeithammer (), Marco Bertini (), Ernan Haruvy (), Sandy D. Jap (), Oded Koenigsberg (), Vincent Mak (), Peter Popkowski Leszczyc, Bernd Skiera () and Manoj Thomas ()
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Robert Zeithammer: University of California, Los Angeles
Marco Bertini: ESADE
Ernan Haruvy: University of Texas at Dallas
Sandy D. Jap: Emory University
Oded Koenigsberg: London Business School
Vincent Mak: Cambridge Judge Business School, University of Cambridge
Manoj Thomas: Cornell University

Customer Needs and Solutions, 2018, vol. 5, issue 1, 121-136

Abstract: Abstract Driven by the low transaction costs and interactive nature of the internet, customer participation in the price-setting process has increased. Today, platforms such as eBay have popularized online auctions on a global scale, Priceline has made headlines with its name-your-own-price (NYOP) business model, and Humble Bundle has enabled independent musicians and game developers to market their works through pay-what-you-want (PWYW) pricing. Advertising exchanges conduct several hundred million individual auctions per day to sell online advertising slots. The present paper contributes to the literature on participative pricing in three ways. First, we propose a definition of participative pricing mechanisms, as well as a useful taxonomy. Second, we discuss the current understanding by synthesizing conceptual and empirical academic literature. Third, we outline promising research questions with a key focus on the related behavioral aspects of buyers and sellers.

Keywords: Auction; Name-your-own-price; Pay-what-you-want; Bargaining; Outcome and process utility; Taxonomy (search for similar items in EconPapers)
Date: 2018
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