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Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [ 1 ]
Psychology Today content and its therapist directory are found in 20 countries worldwide. [3] Psychology Today's therapist directory is the most widely used [4] and allows users to sort therapists by location, insurance, types of therapy, price, and other characteristics. It also has a Spanish-language website.
If the price that one is paying is equal to the mental reference price for the good, the transaction value is zero. If the price is lower than the reference price, the transaction utility is positive. Total utility received from a transaction, then, is the sum of acquisition utility and transaction utility.
Devon Price is an American social psychologist, blogger, and author focusing on autism. He is best known for his books, Unmasking Autism: Discovering the New Faces of Neurodiversity and Laziness Does Not Exist , as well as for publishing shorter pieces on Medium and Psychology Today .
Behavioral models typically integrate insights from psychology, neuroscience and microeconomic theory. [ 3 ] [ 4 ] Behavioral economics began as a distinct field of study in the 1970s and 1980s, but can be traced back to 18th-century economists, such as Adam Smith , who deliberated how the economic behavior of individuals could be influenced by ...
A price system may be either a regulated price system (such as a fixed price system) where prices are administered by an authority, or it may be a free price system (such as a market system) where prices are left to float "freely" as determined by supply and demand without the intervention of an authority. A mixed price system involves a ...
Price optimization utilizes data analysis to predict the behavior of potential buyers to different prices of a product or service. Depending on the type of methodology being implemented, the analysis may leverage survey data (e.g. such as in a conjoint pricing analysis [7]) or raw data (e.g. such as in a behavioral analysis leveraging 'big data' [8] [9]).
Asymmetric price transmission (sometimes abbreviated as APT and informally called "rockets and feathers" , also known as asymmetric cost pass-through) refers to pricing phenomenon occurring when downstream prices react in a different manner to upstream price changes, depending on the characteristics of upstream prices or changes in those prices.