Experiment 2: Odd–Even Pricing For this experiment, you will only need one of the items from experiment 1.

a. Place a sign on the item that ends in 99 cents (e.g.,

$62.99). Ask research participants to tell you if they think the price for the item is very low, slightly low, moderate, slightly high, or very high. Also ask them to evaluate the quality of the item and to tell you, on a scale of 1 to 10, with 10 being very likely, how likely they would be to purchase the item.

b. This time place a sign on the item that is slightly lower but that ends in 0 cents (e.g., $60). Ask dif-ferent research participants to tell you if they think the price for the item is very low, slightly low, moderate, slightly high, or very high. Also ask them to evaluate the quality of the item and to tell you how likely they would be to purchase the item.

Develop a presentation for your class in which you dis-cuss the results of your experiments and what they tell you about odd–even pricing and about assimilation and contrast effects in price perceptions.