Does it actually feel right? A replication attempt of the rounded price effect

Area of Science:

• Consumer Psychology
• Behavioral Economics
• Pricing Strategies

Background:

• The 'rounded price effect' suggests that price endings (rounded vs. non-rounded) can influence consumer purchase likelihood.
• A proposed mechanism is the 'feeling right' consumers experience when evaluating products at certain price points.

Purpose of the Study:

• To replicate findings on the rounded price effect and its proposed mediation.
• To assess the robustness of original statistical findings using p-Curve analysis and R-Index.

Main Methods:

• A pre-registered replication of Study 5 from the original research was conducted.
• The study involved 588 participants evaluating products with rounded and non-rounded prices.
• Statistical robustness was assessed using p-Curve analysis and the R-Index due to unavailability of original data.

Main Results:

• No significant interaction was found between price roundedness and context for either the original or alternative product.
• Mediation through a 'sense of feeling right' was not supported by the findings.
• The observed effect, if present, appears to be smaller than originally reported or contingent on uninvestigated factors.

Conclusions:

• The rounded price effect's influence on consumer evaluations and purchase likelihood may be less pronounced than previously suggested.
• Further research is needed to explore potential moderating factors and replicate findings in larger, diverse samples.