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The impact of research design on consumer price recall accuracy: An integrative review

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Abstract

For almost half a century, researchers have examined consumer knowledge of prices, often with disturbing and conflicting results. Although the general findings suggest that consumer knowledge of prices is poorer than assumed in neoclassical economic theory, significant variations among results exist. The authors synthesize findings from prior studies to determine the impact of research design choices on price recall accuracy measures. A meta-analysis indicates that a significant amount of variation in the accuracy of consumers’ price recall is related to research design characteristics such as the presence of financial rewards, respondents’ task size, and the price elicitation approach. Implications for price awareness research are discussed.

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Authors and Affiliations

  1. Fordham University, New York, USA

    Hooman Estelami

  2. Columbia University, Columbia, USA

    Donald R. Lehmann

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  1. Hooman Estelami
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Hooman Estelami is an assistant professor of marketing and codirector of the Pricing Center at the Graduate School of Business, Fordham University. His research has been published in, among others, theJournal of the Academy of Marketing Science, theJournal of Service Research, theJournal of Product and Brand Management, theJournal of Marketing Theory and Practice, theJournal of Consumer Satisfaction/Dissatisfaction and Complaining Behavior, theJournal of Professional Services Marketing, theJournal of Business in Developing Nations.

Donald R. Lehmann is George E. Warren professor of marketing at the Graduate School of Business, Columbia University. His research has been published in theJournal of Marketing Research, theJournal of Marketing, Marketing Science, theJournal of Business Research, theJournal of Retailing, theJournal of Product Innovation Management, Management Science, Marketing Letters, and elsewhere. He has written numerous books related to marketing research and marketing management.

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Estelami, H., Lehmann, D.R. The impact of research design on consumer price recall accuracy: An integrative review. JAMS 29, 36–49 (2001). https://doi.org/10.1177/0092070301291003

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