Behavioral Pricing and Innovative Pricing Mechanisms in Purchase Decisions - a Review and Recommendations for Future Research
(A2023-114482)

AUTHORS

Bastian Werner, Brandenburg University of Technology Cottbus-Senftenberg; Florian Dost, Brandenburg University of Technology

ABSTRACT

Previous literature has not identified commonalities between behavioral pricing constructs and innovative pricing mechanisms. However, commonalities do exist, as this systematic literature analysis from the last 18 years shows. We present the main constructs of behavioral pricing (reference price, price-quality inference, price thresholds, price fairness) and innovative pricing mechanisms (dynamic pricing, participative pricing, personalized pricing) in a condensed form and provide arguments for the link between the constructs. In the paper's argumentation, we identify research gaps and provide key implications for practice. The results show that behavioral pricing constructs not only effect pricing mechanisms, but also reverse effects and interactions are present. We assume that this interactive relationship is not linear.