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Collaborative destination marketing and PWYW

Stangl, Brigitte and Prayag, Girish (2017) Collaborative destination marketing and PWYW Annals of Tourism Research, 70. pp. 103-104.

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Innovative pricing methods such as auctions, Name-Your-Own-Price and Pay-What-You-Want (PWYW) are fairly recent. These pricing approaches allow sellers and customers to collaborate in the price setting process (Amor, 2000; Shapiro & Zillante, 2009). PWYW, in particular, goes a step further by allowing customers to decide which price they want to pay after consumption. As such, this approach takes away the power of price setting from the seller. The customer is free to set any price (even zero) and the seller has to accept it (Kim, Natter, & Spann, 2009). Studies on PWYW provide insights into why the approach works in certain societies (Bolton, 1991; Elster, 1989; Gneezy, Gneezy, Riener, & Nelson, 2012), which factors (e.g. satisfaction, income and price consciousness) impact on the PWYW price people pay, and its profitability for various services (Chao, Fernandez, & Nahata, 2015; Kim et al., 2009; Schons et al., 2014). There is currently no study in the tourism field that either applies PWYW at the destination level to evaluate profitability or the impact of PWYW on subsequent tourist satisfaction. The study contributes to the dearth of literature on collaborative pricing in the tourism field.

Item Type: Article
Divisions : Faculty of Arts and Social Sciences > School of Hospitality and Tourism Management
Authors :
Prayag, Girish
Date : 15 September 2017
DOI : 10.1016/j.annals.2017.09.001
Copyright Disclaimer : © 2017. This manuscript version is made available under the CC-BY-NC-ND 4.0 license
Depositing User : Users 8 not found.
Date Deposited : 22 Sep 2017 07:51
Last Modified : 31 Jul 2020 08:55

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