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Concept of Price fairness perception
The notion of price fairness is related to price discrimination or price differentiation. Price discrimination happens every day. Sometimes we judge different price as fair or unfair. We know that airline industry widely uses such price discrimination technique as a late discounting. As Kimes (2002) have noted consumers are used to revenue management practice in the airline industry. The consumer knows the fact that the price for a flight varies over time. So, this industry doesn't suffer from unfairness perception. However, there exist evidences that different price raise situations can be perceived very unfair. Such an example is Amazon (2000) experiment with DVD movies. Amazon encountered problems when customers began to compare prices on online discussion boards. Customers found out that loyal customers were asked to pay higher price for the same DVD movie. This was perceived very unfair. Amazon finally refunded 6,896 customers an average of $3. The question of price fairness perception addresses is whether it is fair or unfair to change price in different situations  and it depends. It is very important for organizations to have such price management that is perceived fair, otherwise it could cause such negative actions from customers that influence organization reputation and profit (see below). Thus for every organization it is necessary know what makes a customer to judge price changes as unfair. It is very difficult to introduce the exact definition of price fairness. Xia et. al defines price fairness as a consumer’s assessment and associated emotions of whether the difference (or lack of difference) between a seller’s price and the price of a comparative other party is reasonable, acceptable, or justifiable.

Dual entitlement theory
Kahneman et al. (1986) have introduced a dual entitlement theory that tried to explain how customers judge given price situation. This is considered to be the first important theoretical work that deals with such a question. Dual entitlement principle is related to distributive justice concept. In dual entitlement principle every customer has its reference price and profit. This could come from comparison with previous transactions or other customers. Every time a customer is involved in a new transaction he compares his reference price with the real price. If he believes that price was raised in order to increase firms profit, the price is perceived to be unfair. However, if the price was increased in order to protect organizations profit, then price changes are perceived to be fair.

Theoretical framework of price fairness perception
Theoretical framework of price fairness perceptions was introduced in 2004 by Lan Xia et.al Conceptual framework was developed summarizing theoretical foundations and empirical findings on price fairness. Theoretical framework takes into account not only distributive justice, but also procedural justice. In this article authors present a conceptual framework for price fairness that integrates the conceptualizations and organizes existing price fairness research. Framework also expanded price fairness perception to include a cognitive, as well as affective assessment of the perceived fairness of the decision. Today this framework is the main theoretical framework of price fairness perception. The idea of given theoretical framework is represented in the following image:

Empirical studies
There are a lot of empirical studies in given field, much more than theoretical. The main characteristics of existing empirical studies:
 * between subject design like 2 x 2 or 2 x 3 x 2 or similar
 * participants are given scenario, they read it and fill in survey questions
 * participants usually are students or travelers (waiting for plane or coming to hotel)
 * number of participants varies from 100-350

An important limitation of empirical studies are hypothetical scenarios that are mainly used. Another limitation is that every study has focus on one particular field and studies cannot be generalized to other fields and even cultures.

Fields of Empirical studies

 * hotel industry
 * airline industry
 * DVD market
 * coffee market
 * other

Conclusions from theoretical and empirical studies
Core qustions regarding price fairness perception which are important for organizations price management are: which factors influence price perception and what are consequences of fair or unfair price perception.

Factors that influence price fairness perception
From earlier mentioned theoretical works and empirical papers, we can summarize factors that are important for price fairness perception:
 * reference price / profit
 * similar transactions in the past
 * social norms, beleifs
 * organisation motives for price change
 * knowledge
 * buyer-seller relationship
 * buyer (like regional aspects affect perception)

Customers reaction on perceived price
From organizations' point of view it is very important to know what happens if customer perceives given price fair or unfair. Two things should be considered here - emotions and reaction.

Actions after negative emitions
There are empirical evidences that confirm the following: if price is perceived unfair it causes negative emotions and different actions could follow (e.g., Campbell 1999 ). Here are some of actions:
 * complain
 * word of mouth
 * legal actions
 * withdraw from a purchase
 * buy from competitor
 * etc.

Actions after positive emotions
Positive emotions can cause the following actions: It is important to note that actions after unfair price perception usually are stronger than actions after fair price perception. Fair price perception could cause neutral emotions and no actions.
 * repurchasing intentions and loyal customers
 * word of mouth