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- W2023822999 abstract "Purpose – This paper aims to explore the role of observable product characteristics and label wording in consumers' valuations for credence goods, products for which key characteristics may not be fully evaluated even after purchase. The objective is to draw conclusions with relevance to pricing policy.Design/methodology/approach – Hedonic price equations are estimated for a dietary supplement called black cohosh, taken by women for relief from menopausal symptoms.Findings – Consumers respond in expected ways to label words that directly indicate product characteristics: for example, paying more for a product labeled as suitable for vegetarians. But surprising results occur for some nonspecific label words (e.g. “guaranteed” is associated with lower prices), suggesting that consumers view these words as indirect signals with respect to unobservable qualities. Additionally, consumers pay more for packages containing more units (e.g. tablets) even when the time supply of product is held constant; this outco..." @default.
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- W2023822999 date "2011-05-31" @default.
- W2023822999 modified "2023-09-26" @default.
- W2023822999 title "Pricing for a credence good: an exploratory analysis" @default.
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- W2023822999 doi "https://doi.org/10.1108/10610421111134969" @default.
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