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Journal of International Marketing and Marketing Research
2023, Volume 1, Issue 3 : 1-6
Research Article
Behavioral Biases in International Price Sensitivity
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1
Department of Global Behavioral Economics, Stanford University, USA
2
School of International Consumer Psychology, Indian Institute of Business Research, India
3
Faculty of Cultural Market Dynamics, Seoul National University, South Korea
Abstract

Price sensitivity varies across countries, cultures, economic conditions, and psychological dispositions. Traditional economic models assume rational price evaluation, but behavioral economics recognizes that global consumers rely on heuristics, emotional judgments, and cultural biases. This research analyzes how behavioral biases—including anchoring, loss aversion, reference pricing, currency framing, ethnocentrism, and cultural heuristics—shape price perception in international markets. Using hypothetical multi-country survey data and cross-cultural behavioral models, the paper demonstrates that price sensitivity is not solely driven by affordability but by cognitive framing, brand trust, national identity, income perception, and digital exposure. A global pricing bias model is proposed to guide multinational pricing strategy.

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