Effects of Seller-Supplied Prices on Buyers ’ Product Evaluations : Reference Prices in an Internet Auction Context

  title={Effects of Seller-Supplied Prices on Buyers ’ Product Evaluations : Reference Prices in an Internet Auction Context},
  author={Michael Kamins and Xavier Dr{\`e}ze and Valerie S. Folkes},
A field experiment investigated the impact of two external reference points under the seller’s control on the final price of an auction. When an item’s seller specified a high external reference price (a reserve price), the final bid was greater than when the seller specified a low external reference price (a minimum bid). When the seller provided both high and low reference prices, the reserve influenced the final bid more. The low reference price led to a lower outcome compared to when the… CONTINUE READING
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