Sensitivity to Price Changes According to the Weber Fraction: Implications For the General Price Elasticity
Price sensitivity measured as Weber fraction and price elasticity of demand depend on the frame of reference: a purchase may be considered either as gain (price decrease condition) or loss (price decrease condition). The paper compares psychological and economical methods of studying the price / demand relationship.
Robert Mackiewicz and Andrzej Falkowski (2015) ,"Sensitivity to Price Changes According to the Weber Fraction: Implications For the General Price Elasticity", in NA - Advances in Consumer Research Volume 43, eds. Kristin Diehl , Carolyn Yoon, and , Duluth, MN : Association for Consumer Research.
Robert Mackiewicz, University of Social Science and Humanities, Poland
Andrzej Falkowski, University of Social Science and Humanities, Poland
NA - Advances in Consumer Research Volume 43 | 2015
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