Difference between revisions of "Reference price effect"
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(Created page with "The '''reference price effect''' refers to the role of a customer’s reference price on their response to the current price. Prices above the [[Reference...") |
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Latest revision as of 20:15, 9 January 2013
The reference price effect refers to the role of a customer’s reference price on their response to the current price.
Prices above the reference price often decrease the quantity demanded. Prices below the reference price often increase the quantity demanded.