Exploring the Moderating Role of Price Consciousness in Pay-What-You-Want Pricing
Pay what you want (PWYW) is a unique participative pricing mechanism that has no minimum price set by the seller, and the buyers can pay whatever price they want (including a price of zero) that the seller has to accept without being able to withdraw the offer. Recent research on PWYW focuses only o...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Conference Paper |
| Published: |
2017
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| Online Access: | http://hdl.handle.net/20.500.11937/75107 |
| _version_ | 1848763429998821376 |
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| author | Roy, Rajat Rabbanee, Fazlul Sharma, Piyush |
| author2 | Rossi, P. |
| author_facet | Rossi, P. Roy, Rajat Rabbanee, Fazlul Sharma, Piyush |
| author_sort | Roy, Rajat |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | Pay what you want (PWYW) is a unique participative pricing mechanism that has no minimum price set by the seller, and the buyers can pay whatever price they want (including a price of zero) that the seller has to accept without being able to withdraw the offer. Recent research on PWYW focuses only on the direct effects of variables, such as altruism, price consciousness, and reference prices, and ignores their interactions with each other. We address this gap by exploring the moderating influence of price consciousness on the effects of altruism and internal reference price on PWYW pricing decision. We use a field survey with university students in Australia with an ethnic restaurant setting, to show that both altruism and internal reference price have stronger (weaker) effect on the amounts consumers are willing to pay for consumers with lower (higher) levels of price consciousness. Our findings have important implications for both academic researchers and marketing practitioners in this growing research area. |
| first_indexed | 2025-11-14T11:03:20Z |
| format | Conference Paper |
| id | curtin-20.500.11937-75107 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T11:03:20Z |
| publishDate | 2017 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-751072022-05-04T05:42:04Z Exploring the Moderating Role of Price Consciousness in Pay-What-You-Want Pricing Roy, Rajat Rabbanee, Fazlul Sharma, Piyush Rossi, P. Pay what you want (PWYW) is a unique participative pricing mechanism that has no minimum price set by the seller, and the buyers can pay whatever price they want (including a price of zero) that the seller has to accept without being able to withdraw the offer. Recent research on PWYW focuses only on the direct effects of variables, such as altruism, price consciousness, and reference prices, and ignores their interactions with each other. We address this gap by exploring the moderating influence of price consciousness on the effects of altruism and internal reference price on PWYW pricing decision. We use a field survey with university students in Australia with an ethnic restaurant setting, to show that both altruism and internal reference price have stronger (weaker) effect on the amounts consumers are willing to pay for consumers with lower (higher) levels of price consciousness. Our findings have important implications for both academic researchers and marketing practitioners in this growing research area. 2017 Conference Paper http://hdl.handle.net/20.500.11937/75107 10.1007/978-3-319-47331-4_287 restricted |
| spellingShingle | Roy, Rajat Rabbanee, Fazlul Sharma, Piyush Exploring the Moderating Role of Price Consciousness in Pay-What-You-Want Pricing |
| title | Exploring the Moderating Role of Price Consciousness in Pay-What-You-Want Pricing |
| title_full | Exploring the Moderating Role of Price Consciousness in Pay-What-You-Want Pricing |
| title_fullStr | Exploring the Moderating Role of Price Consciousness in Pay-What-You-Want Pricing |
| title_full_unstemmed | Exploring the Moderating Role of Price Consciousness in Pay-What-You-Want Pricing |
| title_short | Exploring the Moderating Role of Price Consciousness in Pay-What-You-Want Pricing |
| title_sort | exploring the moderating role of price consciousness in pay-what-you-want pricing |
| url | http://hdl.handle.net/20.500.11937/75107 |