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  2. Willingness to pay - Wikipedia

    en.wikipedia.org/wiki/Willingness_to_pay

    In behavioral economics, willingness to pay (WTP) is the maximum price at or below which a consumer will definitely buy one unit of a product. [1] This corresponds to the standard economic view of a consumer reservation price .

  3. Value-based pricing - Wikipedia

    en.wikipedia.org/wiki/Value-based_pricing

    However, price buyer wants a low price, so they would clip out the coupon they got from the newspaper and redeem the coupon in the department store for a discount. Thus, fencing and versioning are just the ways of how we can address different segments with the willingness to pay at different price point.

  4. Willingness to accept - Wikipedia

    en.wikipedia.org/wiki/Willingness_to_accept

    The price of any transaction will thus be any point between a buyer's willingness to pay and a seller's willingness to accept; the net difference is the economic surplus. Several methods exist to measure consumer willingness to accept payment.

  5. Reservation price - Wikipedia

    en.wikipedia.org/wiki/Reservation_price

    In economics, a reservation (or reserve) price is a limit on the price of a good or a service. On the demand side, it is the highest price that a buyer is willing to pay; on the supply side, it is the lowest price a seller is willing to accept for a good or service. Reservation prices are commonly used in auctions, but the concept can be ...

  6. Becker–DeGroot–Marschak method - Wikipedia

    en.wikipedia.org/wiki/Becker–DeGroot–Marschak...

    The Becker–DeGroot–Marschak method (BDM), named after Gordon M. Becker, Morris H. DeGroot and Jacob Marschak for the 1964 Behavioral Science paper, "Measuring Utility by a Single-Response Sequential Method" is an incentive-compatible procedure used in experimental economics to measure willingness to pay (WTP).

  7. Price discrimination - Wikipedia

    en.wikipedia.org/wiki/Price_discrimination

    Economists such as Tim Harford in The Undercover Economist have argued that this is a form of price discrimination: by providing a choice between a regular and premium product, consumers are being asked to reveal their degree of price sensitivity (or willingness to pay) for comparable products. Similar techniques are used in pricing business ...

  8. Yield management - Wikipedia

    en.wikipedia.org/wiki/Yield_management

    The opportunities arise from segmentation of consumer willingness to pay. If the market for a particular good follows the simple straight line Price/Demand relationship illustrated below, a single fixed price of $50 there is enough demand to sell 50 units of inventory. This results in $2500 in revenues.

  9. Lindahl tax - Wikipedia

    en.wikipedia.org/wiki/Lindahl_tax

    The marginal cost curve intersects their aggregate willingness to pay curve at the 60th acre, when they are together willing to pay the $15 marginal cost. Thus, the Lindahl equilibrium involves charging Sarah $5 and Tom $10 for each of the 60 acres of park.