The complexity turn in behavioral pricing
© Springer International Publishing AG 2017. All rights reserved. Building behavioral-pricing models-in-contexts enriches one or more goals of science and practice: description, understanding, prediction, and influence/ control. The general theory of behavioral strategy includes a set of tenets that...
| Main Author: | |
|---|---|
| Format: | Book Chapter |
| Published: |
2017
|
| Online Access: | http://hdl.handle.net/20.500.11937/63338 |
| _version_ | 1848761061167071232 |
|---|---|
| author | Woodside, Arch |
| author_facet | Woodside, Arch |
| author_sort | Woodside, Arch |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | © Springer International Publishing AG 2017. All rights reserved. Building behavioral-pricing models-in-contexts enriches one or more goals of science and practice: description, understanding, prediction, and influence/ control. The general theory of behavioral strategy includes a set of tenets that describes alternative configurations of decision processes and objectives, contextual features, and beliefs/assessments associating with different outcomes involving specific price-points. This article explicates these tenets and discusses empirical studies which support the general theory. The empirical studies include the use of alternative data collection and analytical tools including true field experiments, think aloud methods, long interviews, ethnographic decision-tree-modeling, and building and testing algorithms (e.g., fuzzy-set qualitative comparative analysis). The general theory of behavioral pricing involves the blending of cognitive science, complexity theory, economics, marketing, psychology, and implemented practices. Consequently, behavioral pricing theory is distinct from context-free microeconomics, market-driven, and competitor-only price-setting. Capturing and reporting contextually-driven alternative routines to price setting by a compelling set of tenets represents what is particularly new and valuable about the general theory. The general theory serves as a useful foundation for advances in pricing theory and improving pricing practice. |
| first_indexed | 2025-11-14T10:25:41Z |
| format | Book Chapter |
| id | curtin-20.500.11937-63338 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T10:25:41Z |
| publishDate | 2017 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-633382018-02-06T06:23:52Z The complexity turn in behavioral pricing Woodside, Arch © Springer International Publishing AG 2017. All rights reserved. Building behavioral-pricing models-in-contexts enriches one or more goals of science and practice: description, understanding, prediction, and influence/ control. The general theory of behavioral strategy includes a set of tenets that describes alternative configurations of decision processes and objectives, contextual features, and beliefs/assessments associating with different outcomes involving specific price-points. This article explicates these tenets and discusses empirical studies which support the general theory. The empirical studies include the use of alternative data collection and analytical tools including true field experiments, think aloud methods, long interviews, ethnographic decision-tree-modeling, and building and testing algorithms (e.g., fuzzy-set qualitative comparative analysis). The general theory of behavioral pricing involves the blending of cognitive science, complexity theory, economics, marketing, psychology, and implemented practices. Consequently, behavioral pricing theory is distinct from context-free microeconomics, market-driven, and competitor-only price-setting. Capturing and reporting contextually-driven alternative routines to price setting by a compelling set of tenets represents what is particularly new and valuable about the general theory. The general theory serves as a useful foundation for advances in pricing theory and improving pricing practice. 2017 Book Chapter http://hdl.handle.net/20.500.11937/63338 10.1007/978-3-319-47028-3_4 restricted |
| spellingShingle | Woodside, Arch The complexity turn in behavioral pricing |
| title | The complexity turn in behavioral pricing |
| title_full | The complexity turn in behavioral pricing |
| title_fullStr | The complexity turn in behavioral pricing |
| title_full_unstemmed | The complexity turn in behavioral pricing |
| title_short | The complexity turn in behavioral pricing |
| title_sort | complexity turn in behavioral pricing |
| url | http://hdl.handle.net/20.500.11937/63338 |