How to Raise Prices without Making Users Mad

imageThe session will apply behavioral economic principles to the pricing of park and recreation services. The essential concepts of adaptation level theory, assimilation-contrast theory, reference price theory, and prospect theory which provide the framework for these principles will be explained. To reconcile inconsistencies with reference price, five strategies are available; the effectiveness of providing quality in cost information to accomplish this will be described; and eight strategies informed by prospect theory will be developed. These heuristics are the tools managers have to remove any angst that is likely to emerge in response to price increases.

John Crompton

Distinguished Professor & Mayor Pro Tem, City of College Station

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How to Raise Prices Without Making Users Mad
Recorded 09/26/2018
Recorded 09/26/2018 This is the recording of the session from the 2018 NRPA Annual Conference. Please test your browser prior to accessing the content.
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Knowledge Assessment
10 Questions
10 Questions You must successfully complete a short knowledge assessment in order to receive credit for this session.
CEU Credit
0.10 CEU credits  |  No certificate available
0.10 CEU credits  |  No certificate available