{"id":"https://openalex.org/W2145397014","doi":"https://doi.org/10.3386/w13754","title":"Behavioral Aspects of Price Setting, and Their Policy Implications","display_name":"Behavioral Aspects of Price Setting, and Their Policy Implications","publication_year":2008,"publication_date":"2008-01-01","ids":{"openalex":"https://openalex.org/W2145397014","doi":"https://doi.org/10.3386/w13754","mag":"2145397014"},"language":"en","primary_location":{"id":"doi:10.3386/w13754","doi":"https://doi.org/10.3386/w13754","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w13754","pdf_url":"https://doi.org/10.3386/w13754","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"volume":null,"type":"report","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.3386/w13754","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5073428388","display_name":"Julio J. Rotemberg","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I136199984","display_name":"Harvard University","ror":"https://ror.org/03vek6s52","country_code":"US","type":"education","lineage":["https://openalex.org/I136199984"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Julio Rotemberg","raw_affiliation_strings":["Graduate School of Business Harvard University, Morgan Hall Soldiers Field Boston, MA 02163 and","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Graduate School of Business Harvard University, Morgan Hall Soldiers Field Boston, MA 02163 and","institution_ids":["https://openalex.org/I136199984"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5073428388"],"corresponding_institution_ids":["https://openalex.org/I1321305853","https://openalex.org/I136199984"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":68,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11161","display_name":"Consumer Market Behavior and Pricing","score":0.8988999724388123,"subfield":{"id":"https://openalex.org/subfields/1406","display_name":"Marketing"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11161","display_name":"Consumer Market Behavior and Pricing","score":0.8988999724388123,"subfield":{"id":"https://openalex.org/subfields/1406","display_name":"Marketing"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.07370000332593918,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11043","display_name":"Merger and Competition Analysis","score":0.006099999882280827,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/price-setting","display_name":"price setting","score":0.8569999933242798},{"id":"https://openalex.org/keywords/consumer-price-perception","display_name":"consumer price perception","score":0.5099999904632568},{"id":"https://openalex.org/keywords/price-information","display_name":"price information","score":0.5709999799728394},{"id":"https://openalex.org/keywords/consumer-regret","display_name":"consumer regret","score":0.7070000171661377},{"id":"https://openalex.org/keywords/consumer-anger","display_name":"consumer anger","score":0.9129999876022339},{"id":"https://openalex.org/keywords/sticky-prices","display_name":"price stickiness","score":0.6359999775886536},{"id":"https://openalex.org/keywords/inflation","display_name":"inflation","score":0.3050000071525574},{"id":"https://openalex.org/keywords/mortgage-regulation","display_name":"mortgage regulation","score":0.7630000114440918},{"id":"https://openalex.org/keywords/consumer-welfare","display_name":"consumer welfare","score":0.37299999594688416}],"concepts":[{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.438988596200943},{"id":"https://openalex.org/C109574028","wikidata":"https://www.wikidata.org/wiki/Q647525","display_name":"Behavioral economics","level":2,"score":0.41537120938301086},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.391876757144928},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.18018299341201782}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.3386/w13754","doi":"https://doi.org/10.3386/w13754","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w13754","pdf_url":"https://doi.org/10.3386/w13754","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},{"id":"pmh:oai:RePEc:nbr:nberwo:13754","doi":null,"is_oa":false,"landing_page_url":"http://www.nber.org/papers/w13754.pdf","pdf_url":"http://www.nber.org/papers/w13754.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:aleph.bib-bvb.de:BVB01-016908976","doi":null,"is_oa":false,"landing_page_url":"http://papers.nber.org/papers/w13754.pdf","pdf_url":"http://papers.nber.org/papers/w13754.pdf","source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},{"id":"mag:3121288748","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=1088668","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"mag:3147943853","doi":null,"is_oa":false,"landing_page_url":"https://ideas.repec.org/p/nbr/nberwo/13754.html","pdf_url":null,"source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"National Bureau of Economic Research","raw_type":null}],"best_oa_location":{"id":"doi:10.3386/w13754","doi":"https://doi.org/10.3386/w13754","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w13754","pdf_url":"https://doi.org/10.3386/w13754","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth","score":0.4399999976158142}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2145397014.pdf","grobid_xml":"https://content.openalex.org/works/W2145397014.grobid-xml"},"referenced_works_count":79,"referenced_works":["https://openalex.org/W1485893441","https://openalex.org/W1532497339","https://openalex.org/W1538117216","https://openalex.org/W1565905637","https://openalex.org/W1599449303","https://openalex.org/W1777686370","https://openalex.org/W1825286732","https://openalex.org/W1967888211","https://openalex.org/W1972476260","https://openalex.org/W1995278743","https://openalex.org/W1996592409","https://openalex.org/W2008402829","https://openalex.org/W2011109122","https://openalex.org/W2024108674","https://openalex.org/W2027059017","https://openalex.org/W2031614381","https://openalex.org/W2031823314","https://openalex.org/W2045536949","https://openalex.org/W2046994974","https://openalex.org/W2052615389","https://openalex.org/W2055721458","https://openalex.org/W2063414602","https://openalex.org/W2066522473","https://openalex.org/W2068589460","https://openalex.org/W2074315705","https://openalex.org/W2081053894","https://openalex.org/W2081916225","https://openalex.org/W2082839717","https://openalex.org/W2086270352","https://openalex.org/W2088801880","https://openalex.org/W2092041689","https://openalex.org/W2093960187","https://openalex.org/W2106045992","https://openalex.org/W2107741948","https://openalex.org/W2111073395","https://openalex.org/W2111819448","https://openalex.org/W2112062416","https://openalex.org/W2118821716","https://openalex.org/W2127680685","https://openalex.org/W2128628752","https://openalex.org/W2130774671","https://openalex.org/W2132048656","https://openalex.org/W2145410080","https://openalex.org/W2150859583","https://openalex.org/W2151879785","https://openalex.org/W2153490651","https://openalex.org/W2155014080","https://openalex.org/W2156007017","https://openalex.org/W2158592483","https://openalex.org/W2159165621","https://openalex.org/W2161001079","https://openalex.org/W2168209452","https://openalex.org/W2192556578","https://openalex.org/W2268421884","https://openalex.org/W2315747631","https://openalex.org/W2320144218","https://openalex.org/W2890876447","https://openalex.org/W2891925653","https://openalex.org/W2917288823","https://openalex.org/W3014543070","https://openalex.org/W3121293400","https://openalex.org/W3122321297","https://openalex.org/W3124097197","https://openalex.org/W3124334953","https://openalex.org/W3124972896","https://openalex.org/W3126025706","https://openalex.org/W4230393303","https://openalex.org/W4230585516","https://openalex.org/W4245744021","https://openalex.org/W4247765758","https://openalex.org/W4251252946","https://openalex.org/W4285719527","https://openalex.org/W4301869693","https://openalex.org/W6653102265","https://openalex.org/W6658513120","https://openalex.org/W6669310227","https://openalex.org/W6676546234","https://openalex.org/W6701776630","https://openalex.org/W7019385079"],"related_works":["https://openalex.org/W7097758220","https://openalex.org/W2161001079","https://openalex.org/W7098855069","https://openalex.org/W2751981615","https://openalex.org/W2120785810","https://openalex.org/W1484239161","https://openalex.org/W7095798330","https://openalex.org/W7097085278","https://openalex.org/W2017865407","https://openalex.org/W2126818273"],"abstract_inverted_index":{"This":[0],"paper":[1,91],"starts":[2],"by":[3],"discussing":[4],"consumers'":[5],"cognitive":[6],"and":[7,34,58,113,135],"emotional":[8],"reaction":[9],"to":[10,18,25,43,88,93,101],"posted":[11],"prices.Cognitively,":[12],"some":[13,94,103],"consumers":[14,124],"do":[15,129],"not":[16,130],"appear":[17,100],"make":[19],"effective":[20],"use":[21],"of":[22,40,66,72,82,118,145,161],"price":[23,67,83,111],"information":[24],"maximize":[26],"their":[27,62,132],"consumption-based":[28],"utility.Emotionally,":[29],"prices":[30,42,51,63,98],"can":[31,46,148],"induce":[32],"regret":[33],"anger":[35],"among":[36],"consumers.The":[37],"optimal":[38],"responses":[39],"firm's":[41],"these":[44],"reactions":[45],"explain":[47,150],"why":[48,59],"firms":[49,141],"charge":[50],"below":[52],"marginal":[53],"cost":[54],"for":[55,153],"many":[56,127],"goods":[57],"they":[60,137],"keep":[61],"rigid.This":[64],"explanation":[65],"rigidity":[68],"has":[69],"the":[70,76,79,90,116],"advantage":[71,144],"being":[73],"consistent":[74],"with":[75],"observation":[77],"that":[78,99,107,126,142,156],"typical":[80],"size":[81],"increases":[84],"is":[85],"nearly":[86],"invariant":[87],"inflation.Lastly,":[89],"turns":[92],"government":[95],"policies":[96,155],"regarding":[97],"have":[102,121],"consumer":[104,151],"support.It":[105],"argues":[106],"both":[108],"laws":[109,114],"against":[110],"gouging":[112],"regulating":[115],"terms":[117],"mortgages":[119],"may":[120],"support":[122,152],"because":[123,136],"recognize":[125],"people":[128],"optimize":[131],"consumption":[133],"effectively":[134],"are":[138],"angry":[139],"at":[140],"take":[143],"this.These":[146],"attitudes":[147],"also":[149],"monetary":[154],"maintain":[157],"a":[158],"low":[159],"level":[160],"average":[162],"inflation.":[163]},"counts_by_year":[{"year":2025,"cited_by_count":4},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":5},{"year":2018,"cited_by_count":4},{"year":2017,"cited_by_count":10},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":4},{"year":2013,"cited_by_count":5},{"year":2012,"cited_by_count":8}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2016-06-24T00:00:00"}