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Perceptions of price fairness: An empirical research

  • Gielissen, R.
  • Dutilh, C.E.
  • Graafland, J.J.

This paper researches factors that influence price fairness judgements. The empirical literature suggests several factors: reference prices, the costs of the seller, a self-interest bias and the perceived motive of sellers. Using a Dutch sample, we find empirical evidence that these factors significantly affect perceptions of fair prices. In addition, we find that the perceived fairness of prices is also influenced by other distributional concerns that are independent of the transaction. In particular, price increases are judged to be fairer if they benefit poor people or small organisations rather than benefiting rich people or big organisations.

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File URL: http://mpra.ub.uni-muenchen.de/20275/1/MPRA_paper_20275.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 20275.

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Date of creation: 2008
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Publication status: Published in Business & Society: A Journal of Interdisciplinary Exploration 47.3(2008): pp. 370-389
Handle: RePEc:pra:mprapa:20275
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Web page: http://mpra.ub.uni-muenchen.de

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  1. Akerlof, George A, 1982. "Labor Contracts as Partial Gift Exchange," The Quarterly Journal of Economics, MIT Press, vol. 97(4), pages 543-69, November.
  2. Richard H. Thaler, 2008. "Mental Accounting and Consumer Choice," Marketing Science, INFORMS, vol. 27(1), pages 15-25, 01-02.
  3. Graafland, J.J., 2002. "Sourcing ethics in the textile sector: The case of C&A," MPRA Paper 20769, University Library of Munich, Germany.
  4. Maxwell, Sarah, 2002. "Rule-based price fairness and its effect on willingness to purchase," Journal of Economic Psychology, Elsevier, vol. 23(2), pages 191-212, April.
  5. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard, 1986. "Fairness as a Constraint on Profit Seeking: Entitlements in the Market," American Economic Review, American Economic Association, vol. 76(4), pages 728-41, September.
  6. Dickson, Peter R. & Kalapurakal, Rosemary, 1994. "The use and perceived fairness of price-setting rules in the bulk electricity market," Journal of Economic Psychology, Elsevier, vol. 15(3), pages 427-448, September.
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