Engaging Customers in Pricing—External and Internal Reference Prices in a Pay-What-You-Want Field Experiment

摘要

Pay What You Want (PWYW) is a participative pricing mechanism in which a seller gives control over setting the price of a product (which may be a good or a service) to the buyer. The PWYW concept has become popular in online (e.g. music and video game downloads) and offline industries (restaurants, cafes, hotels, museums).