Commentary on Behavioral Price Research: The Role of Subjective Experiences in Price Cognition
17 Pages Posted: 5 Mar 2013 Last revised: 18 Jun 2013
Date Written: March 5, 2013
The author argues that subjective feelings, both mild cognitive feelings such as processing fluency and the feeling of knowing, as well as more intense emotional responses such as the pain of paying, play important roles in price psychology. Theoretical frameworks or models that do not incorporate the effects of such subjective feelings are likely to lack descriptive validity.
Keywords: pricing, consumer psychology, pain of paying, cognitive feelings
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