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Cooper (p. 23-32)

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Coulmas-Law (p.42-46)

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JOURNAL OF APPLIED BUSINESS AND ECONOMICS

Psychological Pricing Principles for Organizations with Market Power

Author(s): Ronald B. Larson

Citation: Ronald B. Larson, (2014) "Psychological Pricing Principles for Organizations with Market Power," Journal of Applied Business and Economics, Vol. 16, Iss. 1, pp. 11-25

Article Type: Research paper

Publisher: North American Business Press

Abstract:

Variations in the pricing approaches firms employ may partially explain why observed industry prices

appear inconsistent with economic theory. Some firms may use principles developed from psychology that

do not fit traditional economic models to enhance their profits beyond the basic solutions from economic

theory. This paper describes more than fifty of these principles, dividing them into four categories:

framing, congruency, context, and signaling. By studying these principles from psychology, researchers

and policy makers can better understand the prices they observe in the marketplace. By following more of

these principles, firms may be able to enhance their performance.