Neuropricing: Perspectives of brain reactions to price exposure

by Vasilis Nigdelis and Magda Tsolaki
http://www.nuclmed.gr/wp/wp-content/uploads/2017/07/Supplement.pdf

Abstract 

Objectives: The purpose of this paper is to analyse existing literature and find empirical evidence regarding the effect of pricing strategies on consumer purchase decision making, both on a behavioral and a neuropsychological level, i.e. whether prices influence and correlate with human brain functioning. 

Methods: The paper is based on an investigation and review of studies from selective international journals dealing with pricing and its impact on consumer behaviour and decision making. 

Results: A series of various pricing strategies is presented, which, in total, are in a position to successfully influence consumer behaviour at cognitive, emotional and behavioral levels. 

Conclusion: The study confirms a complete lack of research on the effect of neuropricing on consumer behaviour and anticipates the need for the evolution of this field.