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dc.contributor.authorMazar, Ninaen_US
dc.contributor.authorShampanier, Kristinaen_US
dc.contributor.authorAriely, Danen_US
dc.date2015-07-26
dc.date.accessioned2020-04-10T15:47:23Z
dc.date.available2020-04-10T15:47:23Z
dc.date.issued2017-01
dc.identifierhttps://pubsonline.informs.org/doi/pdf/10.1287/mnsc.2015.2328
dc.identifier.citationNina Mazar, Kristina Shampanier, Dan Ariely. 2017. "When Retailing and Las Vegas Meet: Probabilistic Free Price Promotions." Management Science, Volume 63, Issue 1, pp. 250 - 266 (17). https://doi.org/10.1287/mnsc.2015.2328
dc.identifier.issn0025-1909
dc.identifier.urihttps://hdl.handle.net/2144/40100
dc.description.abstractA number of retailers offer gambling- or lottery-type price promotions with a chance to receive one’s entire purchase for free. Although these retailers seem to share the intuition that probabilistic free price promotions are attractive to consumers, it is unclear how they compare to traditional sure price promotions of equal expected monetary value. We compared these two risky and sure price promotions for planned purchases across six experiments in the field and in the laboratory. Together, we found that consumers are not only more likely to purchase a product promoted with a probabilistic free discount over the same product promoted with a sure discount but that they are also likely to purchase more of it. This preference seems to be primarily due to a diminishing sensitivity to the prices. In addition, we find that the zero price effect, transaction cost, and novelty considerations are likely not implicated.en_US
dc.description.urihttps://pubsonline.informs.org/doi/pdf/10.1287/mnsc.2015.2328
dc.format.extentp. 250 - 266en_US
dc.language.isoen_US
dc.publisherINFORMSen_US
dc.relation.ispartofManagement Science
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internationalen_US
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectPerceptionen_US
dc.subjectGambleen_US
dc.subjectUncertaintyen_US
dc.subjectProspect theoryen_US
dc.subjectProbability weightingen_US
dc.subjectValueen_US
dc.subjectWeber–Fechneren_US
dc.subjectDiscounten_US
dc.subjectMarketingen_US
dc.subjectPricingen_US
dc.subjectJudgment and decision makingen_US
dc.subjectConsumer behavioren_US
dc.subjectInformation and computing sciencesen_US
dc.subjectCommerce, management, tourism and servicesen_US
dc.subjectOperations researchen_US
dc.titleWhen retailing and Las Vegas meet: probabilistic free price promotionsen_US
dc.typeArticleen_US
dc.identifier.doihttps://doi.org/10.1287/mnsc.2015.2328
pubs.elements-sourcemanual-entryen_US
pubs.notesApplied or Integration/Application Scholarshipen_US
pubs.notesEmbargo: Not knownen_US
pubs.organisational-groupBoston Universityen_US
pubs.organisational-groupBoston University, Questrom School of Businessen_US
pubs.organisational-groupBoston University, Questrom School of Business, Marketingen_US
pubs.publication-statusPublisheden_US
dc.date.online2016-03-02
dc.description.oaversionPublished version
dc.identifier.mycv476726


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Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivatives 4.0 International