More Than a Penny’s Worth: Left-Digit Bias and Firm Pricing
Abstract Firms arguably price at ninety-nine-ending prices because of left-digit bias—the tendency of consumers to perceive a $4.99 as much lower than a $5.00. Analysis of retail scanner data on 3500 products sold by twenty-five U.S. chains provides robust support for this explanation. I structurall...
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| Veröffentlicht in: | The Review of economic studies 2023-09, Vol.90 (5), p.2612-2645 |
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| Format: | Artikel |
| Sprache: | eng |
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