The Price is Wrong

The Price is Wrong
Author: Sarah Maxwell
Publisher: John Wiley & Sons
Total Pages: 258
Release: 2007-12-11
Genre: Business & Economics
ISBN: 0470226196

Fair pricing is an issue that affects us all, whether we?re consumers or merchants. Throughout her career, Sarah Maxwell has seen how pricing practices?across a variety of different areas, from mobile phones and airline tickets to prescription drugs and gasoline?impact our everyday lives. Now, with The Price Is Wrong, Maxwell shares her deepest insights on this issue and examines both the psychological and sociological basis of fair pricing.

Fairness

Fairness
Author: Sandra Ziegler
Publisher: Children's Press
Total Pages: 36
Release: 1989
Genre: Juvenile Nonfiction
ISBN: 9780516063164

Presents, in simple text and illustrations, a variety of familiar situations that explain the concept of fairness.

Free Market Fairness

Free Market Fairness
Author: John Tomasi
Publisher: Princeton University Press
Total Pages: 380
Release: 2013-05-05
Genre: Business & Economics
ISBN: 0691158142

A provocative new vision of free market capitalism that achieves liberal ends by libertarian means Can libertarians care about social justice? In Free Market Fairness, John Tomasi argues that they can and should. Drawing simultaneously on moral insights from defenders of economic liberty such as F. A. Hayek and advocates of social justice such as John Rawls, Tomasi presents a new theory of liberal justice. This theory, free market fairness, is committed to both limited government and the material betterment of the poor. Unlike traditional libertarians, Tomasi argues that property rights are best defended not in terms of self-ownership or economic efficiency but as requirements of democratic legitimacy. At the same time, he encourages egalitarians concerned about social justice to listen more sympathetically to the claims ordinary citizens make about the importance of private economic liberty in their daily lives. In place of the familiar social democratic interpretations of social justice, Tomasi offers a "market democratic" conception of social justice: free market fairness. Tomasi argues that free market fairness, with its twin commitment to economic liberty and a fair distribution of goods and opportunities, is a morally superior account of liberal justice. Free market fairness is also a distinctively American ideal. It extends the notion, prominent in America's founding period, that protection of property and promotion of real opportunity are indivisible goals. Indeed, according to Tomasi, free market fairness is social justice, American style. Provocative and vigorously argued, Free Market Fairness offers a bold new way of thinking about politics, economics, and justice—one that will challenge readers on both the left and right.

Fairness in Practice

Fairness in Practice
Author: Aaron James
Publisher: OUP USA
Total Pages: 381
Release: 2012-04-13
Genre: Business & Economics
ISBN: 0199846154

In this book, the author argues that to achieve a fair global economy, there must be compensation of people harmed by their exposure to the global economy, but also equal division of the "gains of trade" across societies.

The Conflict of Price Differentiation and Price Fairness

The Conflict of Price Differentiation and Price Fairness
Author: Luisa Domanska
Publisher: GRIN Verlag
Total Pages: 111
Release: 2019-01-11
Genre: Business & Economics
ISBN: 3668863830

Master's Thesis from the year 2018 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, Cologne Business School Köln, language: English, abstract: The thesis describes the conflict of price differentiation strategies and the consumers' perception of price fairness in different manners. By that, the role of a price is explained in detail in the role of marketing, as well as it's role in behavioral economics regarding price fairness. Different examples, being a highly discussed topic in the current state of the art, are brought together to demonstrate the variety of this price policy. Uber, the haircutting industry as well as typical gender-based pricing or emergency situations represent crucial practices that are discussed in regard of moral and ethical limitations in terms of price fairness. Finally, the work aims to understand the limitations on price differentiation in the context of price fairness and tries to answer questions as: When is price differentiation acceptable for consumers and when should firms reconsider differential price strategies due to a perceived abuse of trust, anger or similar emotions of targeted customers? For that, an empirical social research is considered to bring first and secondary data together, and to enable the defintion of those limitations to become a little clearer.

Pricing Fairness in a Pandemic

Pricing Fairness in a Pandemic
Author: Elizabeth Friedman
Publisher:
Total Pages: 41
Release: 2020
Genre:
ISBN:

The recent pandemic has caused many businesses to alter their offerings, at times providing inferior value to their customers or incurring higher costs. Many classes moved online, leading to a lower-value offering without significant cost reductions, and many firms adopted costly hygiene measures, such as stringent cleaning or reducing capacity to maintain social distancing. This article explores consumers' fairness perceptions regarding pricing decisions made in response to unique scenarios caused by the pandemic. We present three key findings: (i) maintaining prices following a product downgrade is viewed as less fair than maintaining prices following an equivalent decrease in costs; (ii) price decreases following a product downgrade are viewed as more fair when positioned as passing on a cost saving rather than making up for decreased value; and (iii) price increases due to hygiene measures are perceived as more fair when they result from direct (compared with indirect) cost changes.

Against Fairness

Against Fairness
Author: Stephen T. Asma
Publisher: University of Chicago Press
Total Pages: 220
Release: 2013
Genre: Business & Economics
ISBN: 0226029867

A polymath philosopher shares lighthearted examples of humanity's unspoken instinct toward favoritism to argue against zealous pursuits of fairness.

Pricing when Customers Care about Fairness But Misinfer Markups

Pricing when Customers Care about Fairness But Misinfer Markups
Author: Erik Eyster
Publisher:
Total Pages: 73
Release: 2017
Genre: Consumers
ISBN:

This paper proposes a theory of price rigidity consistent with survey evidence that firms stabilize prices out of fairness to their consumers. The theory relies on two psychological assumptions. First, customers care about the fairness of prices: fixing the price of a good, consumers enjoy it more at a low markup than at a high markup. Second, customers underinfer marginal costs from prices: when prices rise due to an increase in marginal costs, customers underappreciate the increase in marginal costs and partially misattribute higher prices to higher markups. Firms anticipate customers' reaction and trim their price increases. Hence, the passthrough of marginal costs into prices falls short of one-prices are somewhat rigid. Embedded in a simple macroeconomic model, our pricing theory produces nonneutral monetary policy, a short-run Phillips curve that involves both past and future inflation rates, a hump-shaped impulse response of output to monetary policy, and a nonvertical long-run Phillips curve.

Superfairness

Superfairness
Author: William J. Baumol
Publisher: MIT Press
Total Pages: 294
Release: 1986
Genre: Business & Economics
ISBN: 9780262521314

With his characteristic acuteness and lucidity, William Baumol, one of America's foremost economists, tackles the problem of equity considerations in welfare economics by applying the novel "superfairness" criterion to the distribution of resources, product, income, and wealth that arises from economic decisions.

Fair Or Foul?

Fair Or Foul?
Author: Jodie Lynne Ferguson
Publisher:
Total Pages: 194
Release: 2008
Genre: Prices
ISBN:

Past research on perceived price fairness has examined outcome fairness, or the fairness of an offered price in respect to other prices (e.g., Campbell 1999a; b). In this research consumers' perceived fairness of the process used by the retailer to set the price, as well as outcome perceived price fairness (PPF), were examined. In the first of two studies, twelve price-setting practices were evaluated on procedural fairness, pervasiveness (i.e., commonness of price-setting practice in the marketplace), and social acceptability within six contexts. Social acceptability was found to be highest when the price-setting practice was both procedurally fair and perceived to be highly pervasive for a given context. An experiment bridged the two concepts of price fairness by detecting the negative effect of using a socially unacceptable price-setting practice on outcome PPF. Also, evidence of multidimensionality (i.e., a cognitive and an affective dimension) of the PPF construct was confirmed in the second study. Cognitive and affective assessments of PPF were found to bring about greater consumer intention to partake in self-protection behaviors such as complaining, and revenge-seeking behaviors such as posting negative online reviews.