Construct · 1 fields · 1 citations

price precision effect: a standalone construct

One name. One construct. A landmark on the map.

● anchor · a standalone construct Nearest construct by meaning·not indexed

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Pricing

buyers tend to judge precise-looking prices, such as 364,578, as lower than round prices of similar size.

In pricing, price precision effect refers to buyers tend to judge precise-looking prices, such as 364,578, as lower than round prices of similar size. This meaning comes from Thomas (2010) in Marketing Science.[1]

Unit
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Nearby constructs

precision3 fields · 6 citationsjingle · one word, three constructs price roundedness1 fields · 1 citationsanchor · a standalone construct round3 fields · 5 citationsjingle · one word, three constructs

References

Thomas, M., Simon, D. H., & Kadiyali, V. (2010). The Price Precision Effect: Evidence from Laboratory and Market Data. Marketing Science, 29(1), 175-190. https://doi.org/10.1287/mksc.1090.0512

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