The Accuracy of Scanned Prices |
| |
Authors: | David M. Hardesty Ronald C. Goodstein Dhruv Grewal Anthony D. Miyazaki Praveen Kopalle |
| |
Affiliation: | 1. University of Kentucky, Lexington, KY 40506, United States;2. Georgetown University, Washington, DC 20057, United States;3. Babson College, Babson Park, MA 02457, United States;4. Florida International University, Miami, FL 33199, United States;5. Dartmouth College, Hanover, NH 03755, United States |
| |
Abstract: | Nearly all retailers use price scanning systems to process transactions quickly, and presumably, accurately. Inaccuracies in scanned prices have important implications for retailers in that undercharges may impact retail profitability while overcharges could result in negative consumer perceptions of retailers and continued legal action. Here, we investigate the overall State of accuracy of scanned prices and develop certain empirical generalizations. To do so, we begin with a review of what is known regarding the accuracy of scanned prices and conduct a reanalysis of FTC data and compare the results with those from more recent cross-sectional data from the State of Washington. We then conduct a thorough analysis of a large longitudinal price scanner data set, with 231,760 products screened over a 15-year period. We investigate accuracy across different retailer characteristics, merchandise locations, and promotional activities. Implications of these results for retailers are discussed. |
| |
Keywords: | Scanner data Price accuracy Empirical generalizations Federal Trade Commission |
本文献已被 ScienceDirect 等数据库收录! |
|