A Study on Consumers' Willingness to Practice Name Your Own Price Based on Technology Acceptance Model

DOI: https://doi.org/10.62517/jtm.202413402

Author(s)

Rui Zhou, Jun Wang

Affiliation(s)

School of History and Culture, Hubei Normal University, Huangshi, China

Abstract

The idle and waste of resources, especially some time-sensitive travel resources, such as hotels and airline tickets, has always been a difficult problem for enterprises to solve. Priceline, a US-based company, sells unused and wasted travel resources to consumers at low prices through Name Your Own Price to reduce idle and wasted resources. However, consumers need to bear more time costs, frictional costs, and the risk of failed transactions when using Name Your Own Price than when using the regular pricing model. So how willing are Chinese consumers to use the new pricing model of Name Your Own Price? In this paper, self-efficacy and perceived risk are selected as external variables in the structural equation model. Based on the technology acceptance model, we investigate Chinese consumers' willingness to use Name Your Own Price.

Keywords

Name Your Own Price; Technology Acceptance Model; Self-Efficacy; Perceived Risk; Shopping Orientation

References

[1] Chernev, A., Reverse Pricing and Online Price Elicitation Strategies in Consumer Choice. Journal of Consumer Psychology, 2003.13(1): p. 51-62. [2] Fay, S., Partial-Repeat-Bidding in the Name-Your-Own-Price Channel. 2004.407-418. [3] Spann, M., B. Skiera and B. Schäfers, Measuring individual frictional costs and willingness-to-pay via name-your-own-price mechanisms. Journal of Interactive Marketing, 2004.18(4): p. 22-36. [4] Fay, S., Competitive reasons for the Name-Your-Own-Price channel. Marketing Letters, 2009.20(3): p. 277-293. [5] Spann, M. and G. J. Tellis, Does the Internet Promote Better Consumer Decisions? the Case of Name-Your-Own-Price Auctions. Journal of Marketing, 2006.70(1): p. 65-78. [6] Wolk, A. and M. Spann, the effects of reference prices on bidding behavior in interactive pricing mechanisms. Journal of Interactive Marketing, 2010.22(4): p. 2-18. [7] Bernhardt, M. and M. Spann, An Empirical Analysis of Bidding Fees in Name-your-own-price Auctions. Journal of Interactive Marketing, 2010.24(4): p. 283-296. [8] Davis F D. Perceived usefulness, perceived ease of use, and user acceptance of information technology [J]. Mis Quarterly, 1989, 13(3):319-340. [9] Bandura A, Wood R. Effect of perceived controllability and performance standards on self-regulation of complex decision making. [J]. Journal of Personality & Social Psychology, 1989, 56(5):805-14. [10] Kim D J, Ferrin D L, Rao H R. A trust-based consumer decision-making model in electronic commerce: the role of trust, perceived risk, and their antecedents [J]. Decision Support Systems, 2008, 44(2):544-564. [11] Im, I., Y. Kim and H. Han, the effects of perceived risk and technology type on users’ acceptance of technologies. Information & Management, 2008.45(1): p. 1-9. [12] Krämer, F., et al., Delegating pricing power to customers: Pay What You Want or Name Your Own Price? Journal of Economic Behavior & Organization, 2017.136: p. 125-140.