Interrelationships and distinct effects of internal reference prices on perceived expensiveness and demand
Article first published online: 3 APR 2003
Copyright © 2003 Wiley Periodicals, Inc.
Psychology & Marketing
Special Issue: Beyond Core Service
Volume 20, Issue 3, pages 227–248, March 2003
How to Cite
Garbarino, E. and Slonim, R. (2003), Interrelationships and distinct effects of internal reference prices on perceived expensiveness and demand. Psychol. Mark., 20: 227–248. doi: 10.1002/mar.10069
- Issue published online: 3 APR 2003
- Article first published online: 3 APR 2003
Although the role of reference prices is widely accepted, what reference price people use in what evaluation has received little attention. This article proposes that the compatibility of framing determines what reference price is used in different evaluations. Specifically, it is found that the market-framed fair reference price determines the market-framed perception of expensiveness and that the personally framed reservation price determines the personally framed demand. © 2003 Wiley Periodicals, Inc.