Die Validität eines Ansatzes zur Separierung der Allokations- und Informationsfunktion des Preises

Consumers use price of a product both as a signal of product quality and as a monetary constraint in choosing it. Consequently, price has two distinct roles - informational and allocative - in the evaluation of a product. In this paper, we test the validity of a research approach proposed by Gautschi and Rao, 1990, to estimate these two effects of price. While in practice only the net effect of price is estimated, this approach is able to separate the two price effects. Depending on whether or not the informational effect is stronger than the allocative effect, a positive or negative net price effect will be observed. Testing 7 criteria of validity in an empirical study we find in almost all cases a high validity of our measures....