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Patterns of Rightmost Digits Used in Advertised Prices: Implications for Nine-Ending Effects

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Cited by:

  1. Robert M. Schindler & Mathew S. Isaac & Rebecca Jen-Hui Wang, 2023. "Strategic use of just-below numbers in packaged-foods calorie information," Marketing Letters, Springer, vol. 34(2), pages 237-250, June.
  2. Cardella, Eric & Seiler, Michael J., 2016. "The effect of listing price strategy on real estate negotiations: An experimental study," Journal of Economic Psychology, Elsevier, vol. 52(C), pages 71-90.
  3. Daniel Levy & Dongwon Lee & Haipeng (Allan) Chen & Robert J. Kauffman & Mark Bergen, 2011. "Price Points and Price Rigidity," The Review of Economics and Statistics, MIT Press, vol. 93(4), pages 1417-1431, November.
  4. Edward S. Knotek & Doron Sayag & Avichai Snir, 2019. "The Effects of Price Endings on Price Rigidity: Evidence from VAT Changes," Working Papers 19-24, Federal Reserve Bank of Cleveland.
  5. Annalisa Fraccaro & Sandrine Macé & Béatrice Parguel, 2021. "The not-so-odd couple: Odd pricing in a luxury context," Post-Print halshs-03503449, HAL.
  6. Sonnemans, Joep, 2006. "Price clustering and natural resistance points in the Dutch stock market: A natural experiment," European Economic Review, Elsevier, vol. 50(8), pages 1937-1950, November.
  7. Knotek, Edward S., 2024. "The roles of price points and menu costs in price rigidity," Journal of Monetary Economics, Elsevier, vol. 145(C).
  8. Carver, James R. & Padgett, Daniel T., 2012. "Product Category Pricing and Future Price Attractiveness: 99-Ending Pricing in a Memory-Based Context," Journal of Retailing, Elsevier, vol. 88(4), pages 497-511.
  9. Lingjiang Lora Tu & Chris Pullig, 2018. "Penny wise and pound foolish? How thinking style affects price cognition," Marketing Letters, Springer, vol. 29(2), pages 261-273, June.
  10. Snir, Avichai & Levy, Daniel & Chen, Haipeng (Allan), 2017. "End of 9-endings, price recall, and price perceptions," Economics Letters, Elsevier, vol. 155(C), pages 157-163.
  11. Roland Herrmann & Anke Moeser, 2006. "Do psychological prices contribute to price rigidity? Evidence from German scanner data on food brands," Agribusiness, John Wiley & Sons, Ltd., vol. 22(1), pages 51-67.
  12. Diego Aparicio & Roberto Rigobon, 2020. "Quantum Prices," NBER Working Papers 26646, National Bureau of Economic Research, Inc.
  13. Béatrice Parguel & Annalisa Fraccaro & Sandrine Macé, 2022. "Terminaison du prix dans le luxe : du mythe à la réalité," Post-Print lirmm-03912106, HAL.
  14. Aalto-Setälä, Ville & Schindler, Robert M., 2006. "The importance of attractive prices in pricing dynamics," Research Discussion Papers 30/2006, Bank of Finland.
  15. Einiö, Mikko & Kaustia, Markku & Puttonen, Vesa, 2008. "Price setting and the reluctance to realize losses in apartment markets," Journal of Economic Psychology, Elsevier, vol. 29(1), pages 19-34, February.
  16. Snir, Avichai & Levy, Daniel, 2021. "If You Think 9-Ending Prices Are Low, Think Again," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 6(1 (Forthc).
  17. Maggie Rong Hu & Xiaoyang Li & Yang Shi & Xiaoquan (Michael) Zhang, 2023. "Numerological Heuristics and Credit Risk in Peer-to-Peer Lending," Information Systems Research, INFORMS, vol. 34(4), pages 1744-1760, December.
  18. Snir, Avichai & Chen, Haipeng (Allan) & Levy, Daniel, 2022. "Zero-Ending Prices, Cognitive Convenience, and Price Rigidity," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 203, pages 519-542.
  19. Matthew S. Lewis, 2015. "Odd Prices at Retail Gasoline Stations: Focal Point Pricing and Tacit Collusion," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 24(3), pages 664-685, September.
  20. Macé, Sandrine, 2012. "The Impact and Determinants of Nine-Ending Pricing in Grocery Retailing," Journal of Retailing, Elsevier, vol. 88(1), pages 115-130.
  21. Thomas Glauben & Jens-Peter Loy & Julia Körner, 2007. "Der Einfluss der Euro-Einführung auf die Preisentwicklung bei frischen Lebensmitteln in Deutschland," Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, Duncker & Humblot, Berlin, vol. 127(3), pages 457-485.
  22. Mitra, Debanjan & Fay, Scott, 2010. "Managing Service Expectations in Online Markets: A Signaling Theory of E-tailer Pricing and Empirical Tests," Journal of Retailing, Elsevier, vol. 86(2), pages 184-199.
  23. Ater, Itai & Gerlitz, Omri, 2017. "Round prices and price rigidity: Evidence from outlawing odd prices," Journal of Economic Behavior & Organization, Elsevier, vol. 144(C), pages 188-203.
  24. Edward S. Knotek, 2011. "Convenient Prices and Price Rigidity: Cross-Sectional Evidence," The Review of Economics and Statistics, MIT Press, vol. 93(3), pages 1076-1086, August.
  25. Haipeng (Allan) Chen & Daniel Levy & Avichai Snir, 2017. "End of 9-Endings and Price Perceptions," Working Paper series 17-04, Rimini Centre for Economic Analysis.
  26. Martti Vihanto, 2009. "Forms, importance and working of social institutions," Discussion Papers 49, Aboa Centre for Economics.
  27. Herrmann, Roland & Moeser, Anke, 2005. "Psychological Prices and Price Rigidity in Grocery Retailing: Analysis of German Scanner Data," 2005 Annual meeting, July 24-27, Providence, RI 19471, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  28. Gould, Stephen & Goldsmith, Emily & Lee, Michael, 2020. "The choice polarity effect: An investigation of evolutionary-based trait handedness and perceived magnitudes on laterally displayed choices," Journal of Business Research, Elsevier, vol. 120(C), pages 627-637.
  29. Reto Foellmi & Stefan Legge & Lukas Schmid, 2016. "Do Professionals Get It Right? Limited Attention and Risk‐taking Behaviour," Economic Journal, Royal Economic Society, vol. 0(592), pages 724-755, May.
  30. Santana, Shelle & Thomas, Manoj & Morwitz, Vicki G., 2020. "The Role of Numbers in the Customer Journey," Journal of Retailing, Elsevier, vol. 96(1), pages 138-154.
  31. Bharati, Rakesh & Crain, Susan J. & Kaminski, Vincent, 2012. "Clustering in crude oil prices and the target pricing zone hypothesis," Energy Economics, Elsevier, vol. 34(4), pages 1115-1123.
  32. Julio J. Rotemberg, 2008. "Behavioral Aspects of Price Setting, and Their Policy Implications," NBER Working Papers 13754, National Bureau of Economic Research, Inc.
  33. Levy, Daniel & Snir, Avichai & Gotler, Alex & Chen, Haipeng (Allan), 2020. "Not all price endings are created equal: Price points and asymmetric price rigidity," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue forthcomi.
  34. Raghubir, Priya, 2006. "An information processing review of the subjective value of money and prices," Journal of Business Research, Elsevier, vol. 59(10-11), pages 1053-1062, October.
  35. Hernando, Ignacio & Álvarez, Luis J., 2004. "Price setting behaviour in Spain: stylised facts using consumer price micro data," Working Paper Series 416, European Central Bank.
  36. Dogerlioglu-Demir, Kivilcim & Akpinar, Ezgi & Gurhan-Canli, Zeynep & Koçaş, Cenk, 2022. "Are 1-endings the new 9-endings? An alternative for generating price discount perceptions," Journal of Retailing and Consumer Services, Elsevier, vol. 66(C).
  37. Doron Sayag & Avichai Snir & Daniel Levy, 2024. "Price Setting Rules, Rounding Tax, and Inattention Penalty," Papers 2411.13427, arXiv.org.
  38. Gaston-Breton, Charlotte & Duque, Lola C., 2011. "Promotional benefits of 99-ending prices: the moderating role of intuitive and analytical decision style," DEE - Working Papers. Business Economics. WB wb113809, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
  39. Johnson, Jennifer Wiggins & Cui, Annie Peng, 2013. "To influence or not to influence: External reference price strategies in pay-what-you-want pricing," Journal of Business Research, Elsevier, vol. 66(2), pages 275-281.
  40. Asmus Leth Olsen, 2013. "Leftmost-digit-bias in an enumerated public sector? An experiment on citizens' judgment of performance information," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 8(3), pages 365-371, May.
  41. Ashworth, John & Heyndels, Bruno & Smolders, Carine, 2003. "Psychological taxing in Flemish municipalities," Journal of Economic Psychology, Elsevier, vol. 24(6), pages 741-762, December.
  42. Möser, Anke & Kriep, Laura, 2014. "Bequeme Preise im Quickservice-Bereich," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 63(02), pages 1-13, June.
  43. Karen Gedenk & Henrik Sattler, 1999. "Preisschwellen und Deckungsbeitrag — Verschenkt der Handel gro Potentiale?," Schmalenbach Journal of Business Research, Springer, vol. 51(1), pages 33-59, January.
  44. Möser, A. & Herrmann, R., 2006. "Die Bedeutung psychologischer Preisschwellen in Preisstrategien des Lebensmitteleinzelhandels," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 41, March.
  45. Kalaichelvan, Mohandass & Lim Kai Jie, Shawn, 2012. "A Critical Evaluation of the Significance of Round Numbers in European Equity Markets in Light of the Predictions from Benford’s Law," MPRA Paper 40960, University Library of Munich, Germany.
  46. Marcial López-Pastor & Jesús García-Madariaga & Joaquín Sánchez & Jose Figueiredo, 2020. "Demand Impact for Prices Ending with “9” and “0” in Online and Offline Consumer Goods Retail Trade Channels," International Review of Management and Marketing, Econjournals, vol. 10(6), pages 58-78.
  47. Aparicio, Diego & Rigobon, Roberto, 2023. "Quantum prices," Journal of International Economics, Elsevier, vol. 143(C).
  48. Banerjee, Prantosh J. & Tripathi, Sanjeev & Sahay, Arvind, 2016. "When less is better than more: Just-below discount in tensile price promotions," Journal of Retailing and Consumer Services, Elsevier, vol. 31(C), pages 93-102.
  49. Lin, Tse-Chun & Pursiainen, Vesa, 2021. "The round number heuristic and entrepreneur crowdfunding performance," Journal of Corporate Finance, Elsevier, vol. 68(C).
  50. Jeong, Ji Youn & Crompton, John L., 2017. "The use of odd-ending numbers in the pricing of five tourism services in three different cultures," Tourism Management, Elsevier, vol. 62(C), pages 135-146.
  51. Das, Somnath & Zhang, Huai, 2003. "Rounding-up in reported EPS, behavioral thresholds, and earnings management," Journal of Accounting and Economics, Elsevier, vol. 35(1), pages 31-50, April.
  52. Levon Barseghyan & Maura Coughlin & Francesca Molinari & Joshua C. Teitelbaum, 2021. "Heterogeneous Choice Sets and Preferences," Econometrica, Econometric Society, vol. 89(5), pages 2015-2048, September.
  53. Sascha A. Weber & Sven M. Anders, 2007. "Price rigidity and market power in German retailing," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 28(7), pages 737-749.
  54. Aalto-Setälä, Ville & Schindler, Robert M., 2006. "The importance of attractive prices in pricing dynamics," Bank of Finland Research Discussion Papers 30/2006, Bank of Finland.
  55. Alvarez, Luis J. & Hernando, Ignacio, 2006. "Price setting behaviour in Spain: Evidence from consumer price micro-data," Economic Modelling, Elsevier, vol. 23(4), pages 699-716, July.
  56. Möser, Anke & Kriep, Laura, 2014. "Bequeme Preise im Quickservice-Bereich," Journal of International Agricultural Trade and Development, Journal of International Agricultural Trade and Development, vol. 63(2).
  57. Mohamed Didi Alaoui, 2020. "L’effet d’adéquation entre la forme de présentation du prix et de la distance temporelle sur les réponses du consommateur : une approche par la théorie des niveaux de représentation," Post-Print hal-02870097, HAL.
  58. Enrique Fatas & Ernan Haruvy & Antonio J. Morales, 2014. "A Psychological Reexamination of the Bertrand Paradox," Southern Economic Journal, John Wiley & Sons, vol. 80(4), pages 948-967, April.
  59. Achiel Fenneman & Jörn Sickmann & Sascha Füllbrunn & Carina Goldbach & Thomas Pitz, 2022. "Psychological price perception may exert a weaker effect on purchasing decisions than previously suggested: Results from a large online experiment fail to reproduce either a left-digit or perceptual-f," PLOS ONE, Public Library of Science, vol. 17(8), pages 1-14, August.
  60. Mark Stiving, 2000. "Price-Endings When Prices Signal Quality," Management Science, INFORMS, vol. 46(12), pages 1617-1629, December.
  61. Alisa Frey & Justus Haucap, 2024. "VAT pass-through: the case of a large and permanent reduction in the market for menstrual hygiene products," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 31(1), pages 160-202, February.
  62. Eid, Nourhan & Maltby, Josephine & Talavera, Oleksandr, 2016. "Income Rounding and Loan Performance in the Peer-to-Peer Market," MPRA Paper 72852, University Library of Munich, Germany.
  63. Jeong, Ji Youn & Crompton, John L., 2018. "Do subjects from high and low context cultures attribute different meanings to tourism services with 9-ending prices?," Tourism Management, Elsevier, vol. 64(C), pages 110-118.
  64. Timucin Ozcan & Kunter Gunasti, 2019. "How associations between products and numbers in brand names affect consumer attitudes: introducing multi-context numbers," Journal of Brand Management, Palgrave Macmillan, vol. 26(2), pages 176-194, March.
  65. Eli Beracha & Michael Seiler, 2014. "The Effect of Listing Price Strategy on Transaction Selling Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 49(2), pages 237-255, August.
  66. Utpal Bhattacharya & Craig W. Holden & Stacey Jacobsen, 2012. "Penny Wise, Dollar Foolish: Buy-Sell Imbalances On and Around Round Numbers," Management Science, INFORMS, vol. 58(2), pages 413-431, February.
  67. Hung, Hui-Hsi & Cheng, Yin-Hui & Chuang, Shih-Chieh & Yu, Annie Pei-I & Lin, Yu-Ting, 2021. "Consistent price endings increase consumers perceptions of cheapness," Journal of Retailing and Consumer Services, Elsevier, vol. 61(C).
  68. Gao, Shenghao & Meng, Qingbin & Chan, Jesse Y. & Chan, Kam C., 2018. "Cognitive reference points, institutional investors' bid prices, and IPO pricing: Evidence from IPO auctions in China," Journal of Financial Markets, Elsevier, vol. 38(C), pages 124-140.
  69. Fraccaro, Annalisa & Macé, Sandrine & Parguel, Béatrice, 2021. "The not-so-odd couple: Odd pricing in a luxury context," Journal of Business Research, Elsevier, vol. 136(C), pages 356-365.
  70. Stephan von Cramon-Taubadel & Jens-Peter Loy & Jochen Meyer, 2006. "The impact of cross-sectional data aggregation on the measurement of vertical price transmission: An experiment with German food prices," Agribusiness, John Wiley & Sons, Ltd., vol. 22(4), pages 505-522.
  71. Luis J. Álvarez & Pablo Burriel & Ignacio Hernando, 2010. "Price-setting behaviour in Spain: evidence from micro PPI data," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 31(2-3), pages 105-121.
  72. Matthew Cedergren & Valerie Li, 2024. "Round number reference points and irregular patterns in reported gross margins," Review of Accounting Studies, Springer, vol. 29(4), pages 3293-3327, December.
  73. Antonio FILIPPIN, 2009. "A field experiment on the effect of .99 price endings," Departmental Working Papers 2009-26, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  74. Béatrice Parguel & Annalisa Fraccaro & Sandrine Macé, 2021. "Compromise pricing in luxury," Post-Print halshs-03503443, HAL.
  75. Kaushik Basu, 2006. "Consumer Cognition and Pricing in the Nines in Oligopolistic Markets," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 15(1), pages 125-141, March.
  76. Awudu Abdulai & Christian Kuhlgatz & Silke Schmitz, 2009. "Empirical investigation of price setting and quantity surcharges in the German food sector," Agribusiness, John Wiley & Sons, Ltd., vol. 25(3), pages 331-350.
  77. David Harrison & Michael Seiler, 2015. "The Paradox of Judicial Foreclosure: Collateral Value Uncertainty and Mortgage Rates," The Journal of Real Estate Finance and Economics, Springer, vol. 50(3), pages 377-411, April.
  78. Jinyoung Yu & Young‐Chul Kim & Doojin Ryu, 2024. "Left‐digit biases: Individual and institutional investors," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 44(3), pages 518-532, March.
  79. VANHUELE, Marc & DREZE, Xavier, 2000. "Do consumers really know if the price is right ? Direct measures of references price are their implications for retailing," HEC Research Papers Series 711, HEC Paris.
  80. Jungsil Choi & Kiljae Lee & Yong-Yeon Ji, 2012. "What type of framing message is more appropriate with nine-ending pricing?," Marketing Letters, Springer, vol. 23(3), pages 603-614, September.
  81. Emmanuel Selase Asamoah & Miloslava Chovancová, 2011. "The influence of price endings on consumer behaviour: an application of the psychology of perception," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 59(7), pages 29-38.
  82. Cole, Shawn & Fernando, A. Nilesh & Stein, Daniel & Tobacman, Jeremy, 2020. "Field comparisons of incentive-compatible preference elicitation techniques," Journal of Economic Behavior & Organization, Elsevier, vol. 172(C), pages 33-56.
  83. repec:zbw:bofrdp:2006_030 is not listed on IDEAS
  84. Bronson Argyle & Taylor D. Nadauld & Christopher Palmer, 2019. "Monthly Payment Targeting and the Demand for Maturity," NBER Working Papers 25668, National Bureau of Economic Research, Inc.
  85. Davis, Derick F. & Bagchi, Rajesh & Block, Lauren G., 2016. "Alliteration Alters: Phonetic Overlap in Promotional Messages Influences Evaluations and Choice," Journal of Retailing, Elsevier, vol. 92(1), pages 1-12.
  86. Fabian Ocker, 2018. "“Bid more, pay less” – overbidding and the Bidder’s curse in teleshopping auctions," Electronic Markets, Springer;IIM University of St. Gallen, vol. 28(4), pages 491-508, November.
  87. Herrmann Roland & Moeser Anke & Weber Sascha Alexander, 2005. "Price Rigidity in the German Grocery-Retailing Sector: Scanner-Data Evidence on Magnitude and Causes," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 3(1), pages 1-37, February.
  88. Zemin (Zachary) Zhong, 2022. "Chasing Diamonds and Crowns: Consumer Limited Attention and Seller Response," Management Science, INFORMS, vol. 68(6), pages 4380-4397, June.
  89. Qianhua Ling & Andrea Alston Roberts, 2025. "Identical ratios: a red flag of ratio management," Review of Accounting Studies, Springer, vol. 30(1), pages 119-155, March.
  90. Chien-Huang Lin & Jyh-Wen Wang, 2017. "Distortion of price discount perceptions through the left-digit effect," Marketing Letters, Springer, vol. 28(1), pages 99-112, March.
  91. Diego Aparicio & Duncan Simester, 2022. "Price Frictions and the Success of New Products," Marketing Science, INFORMS, vol. 41(6), pages 1057-1073, November.
  92. Asmus Olsen, 2013. "The politics of digits: evidence of odd taxation," Public Choice, Springer, vol. 154(1), pages 59-73, January.
  93. Joep Sonnemans, 2003. "Price Clustering and Natural Resistance Points in the Dutch Stock Market," Tinbergen Institute Discussion Papers 03-043/1, Tinbergen Institute.
  94. Schlosser, Ann E., 2018. "What are my chances? An imagery versus discursive processing approach to understanding ratio-bias effects," Organizational Behavior and Human Decision Processes, Elsevier, vol. 144(C), pages 112-124.
  95. Eric Anderson & Duncan Simester, 2003. "Effects of $9 Price Endings on Retail Sales: Evidence from Field Experiments," Quantitative Marketing and Economics (QME), Springer, vol. 1(1), pages 93-110, March.
  96. VANHUELE, Marc & LAURENT, Gilles & DREZE, Xavier, 2005. "Consumers' immediate memory for prices," HEC Research Papers Series 813, HEC Paris.
  97. Whynes, David K. & Frew, Emma J. & Philips, Zoe N. & Covey, Judith & Smith, Richard D., 2007. "On the numerical forms of contingent valuation responses," Journal of Economic Psychology, Elsevier, vol. 28(4), pages 462-476, August.
  98. Karen J. Schroeder & Angela Hoffmann & Jens‐Peter Loy, 2016. "The Distribution of Food Retail Prices and the Euro Changeover: Signpost Items Versus Occasional Goods," Agribusiness, John Wiley & Sons, Ltd., vol. 32(1), pages 93-112, January.
  99. repec:cup:judgdm:v:8:y:2013:i:3:p:365-371 is not listed on IDEAS
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