Integration of Serially Sampled Price Infromation: Modeling and Some Findings

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Abstract
Focusing on the perceived value of an observed basket of items as the dependent variable, the article suggests several rival models of integrating serially sampled price information. Within this context, perceptual implications of different discount structures are noted. Also, a computer-controlled laboratory experiment is reported that attempts to provide guidance for subsequent studies that may compare the suggested models. The results suggest that (1) store-profile effects persist after exposure to price information, (2) primacy effects are statistically significant but not strong, and (3) a large number of noticeable discounts lead to a higher perceived value than a small number of extreme discounts.

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