An experimental investigation of the effects of perceived price fairness on perceptions of sacrifice and value

Abstract

The basic tenet of this dissertation was that buyers may compare the prices they are charged for identical products purchased from the same seller. Price discrepancies uncovered through this comparison process were shown to affect perceptions of the fairness of the charged prices. Perceived price fairness was determined to depend not only on the price paid by the buyer who act as a comparison other, or reference other in the exchange, but also on the perceived ability of that reference other to pay the charged price, i.e., on the reference other's income level. Perceptions of price fairness were shown to, in turn, affect perceptions of the monetary sacrifice involved in acquiring the product. Perceived sacrifice effects were demonstrated to differ, depending on whether the product being purchased was a basic necessity or a luxury.

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