Not All Anchors Weigh the Same: Anchoring and Framing Effects in Pay-What-You-Want Pricing

Catherine Armstrong Soule, University of Oregon, USA
Robert Madrigal, University of Oregon, USA
The current research explores anchoring and framing effects of external reference prices (ERPs) on Pay-What-You-Want (PWYW) payments. Two studies demonstrate that ERPs provide normative information that has anchoring effects on voluntary payments. However, frames activating different types of norms can cause identical nominal information to have differential effects on payments.
[ to cite ]:
Catherine Armstrong Soule and Robert Madrigal (2013) ,"Not All Anchors Weigh the Same: Anchoring and Framing Effects in Pay-What-You-Want Pricing", in NA - Advances in Consumer Research Volume 41, eds. Simona Botti and Aparna Labroo, Duluth, MN : Association for Consumer Research.