Behavioral Pricing: Insights, Methods, and Strategy

What it is about

You will learn classic pricing instruments and compare them with insights from behavioral economics. Based on case studies from B2C and B2B markets, you will develop methodological implications and strategic options to apply Behavioral Pricing in practice.

What you will be able to do

Explain differences between classic and behavioral pricing
Conduct literature search
Apply knowledge in a 15-page term paper
Analyze and interpret pricing decisions taking behavioral economic aspects into account

What the module consists of

Block-SeminarIntroductory lecture and several case studies to work on
Individuelle ArbeitIndependent research, elaboration and presentation of a topic

Teaching method

Blockseminar mit Einführungprovides overview and context at the beginning
Break-out Case Studiesenable practical application and discussion
Individuelle Betreuung durch DozentenCoaching and supervision during the elaboration

What you should already know

Nonerecommended

Assessment

Written examPresentation

The grade consists of an equal split between a written research paper (approx. 15 pages, 50%) and a presentation (40 minutes, 50%). In the paper you demonstrate literature knowledge and the application of behavioral economic aspects to pricing decisions. In the presentation you convey the main findings concisely and transparently for fellow students.

Reading list

Bauer, F. - Pricing beyond the Homo Oeconomicus: Expensive mistakes and profitable opportunities in pricing research
Caldwell, L. - The psychology of price. How to use price to increase demand, profit and customer satisfaction
Poundstone, W. - Priceless: the myth of fair value (and how to take advantage of it)
Smith, T. J. - Pricing Strategy: Setting Price Levels, Managing Price Discounts and Establishing Price Structures

Dates

SeminarBehavioral Pricing & Selling: Insights, Methods and Strategy (WI001090, englisch) (Limited places)3 groups to choose from

ATue09:00–18:00
0514, Seminarraum (0505.EG.514)
2× · 26.01.–02.02.
- 26.01.
- 02.02.
BTue14:00–18:000514, Seminarraum (0505.EG.514)once on 13.10.
CThu09:00–18:000514, Seminarraum (0505.EG.514)once on 28.01.

From the current semester, not binding. You attend one of several groups; the timetable automatically suggests the one with the fewest clashes.

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