Fitting a psychometric function to price judgments: An analysis of consumers' judgments for discounted prices

Research output: Contribution to journalReview article

Abstract

We examined a psychometric function of price judgment, comparing the mental ruler model, which predicted inverted S-shaped psychometric function, with a power function. Subjects, 102 citizens living in Japan, were asked to rate satisfaction with specified discounted prices. Analysis indicated that predictions of the mental ruler model gave a better fit than those of the power function.

Original languageEnglish
Pages (from-to)223-228
Number of pages6
JournalPerceptual and motor skills
Volume101
Issue number1
DOIs
Publication statusPublished - 2005 Aug

ASJC Scopus subject areas

  • Experimental and Cognitive Psychology
  • Sensory Systems

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