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Reference price is a key input in deciding product/service prices by organizations and has a significant influence on consumer purchase decisions. This study aims to provide a deeper understanding of reference pricing literature using bibliometric analysis and offers specific research questions for future research in this domain.

Using a sample of 309 articles published between 1977 and 2021, the study conducts bibliographic coupling, citation analysis, cluster analysis, content analysis, keyword analysis and a three-field plot to map the intellectual structure of reference price.

The content analysis gave seven research clusters: (1) modeling reference price, (2) consumer perceptions of price (un)fairness, (3) price framing, (4) comparative price-based promotion, (5) reference price formulation, (6) pay-what-you-want (PWYW) pricing and (7) range theory and price perceptions. The study also delineates reference price literature across several parameters like authorship, highest cited paper, most popular journal, institutions, region-wise publication trend and author-networks. The emerging research themes for future scholars working in this domain have also been highlighted.

This is the first comprehensive study to explore reference price from a bibliometric lens. The study highlights and discusses the recent themes on reference price, from both academic and managerial perspectives.

Option pricing theory enables computation of the price of an option using different variables associated with the underlying security and options contract. The purpose of this study is to assess research trends that emerged in the field of option pricing. This study reviews existing literature of the option pricing domain, both qualitatively and quantitatively, and identifies potential themes for future research.

This study adopts bibliometric analysis method to explore literature published in the option pricing domain. As part of bibliometric analysis, this study considers both descriptive and network analysis to assess publication trends. For descriptive analysis, the “bibliometrix” package proposed by Aria and Cuccurullo (2017) is used and for network analysis, VOS viewer (Van Eck and Waltman, 2017) and Gephi (Bastian et al., 2009) are used.

This study identifies research trends, top researchers, articles, journals and contributions from institutions and countries in the option pricing domain. It identifies four clusters that show different directions and also focuses on past studies on the same subject. It explores research gaps by performing an in-depth analysis of existing literature on option pricing and suggests the way forward for research in this area.

To the best of the authors’ knowledge, no previous studies have attempted to analyze the literature published in the option pricing domain. This study fulfils this research gap by conducting a comprehensive analysis of studies in the option pricing area. This study identifies quality research work published in the domain, research trends, contribution by most relevant researchers, contributions across geographies and institutions and the connections among these aspects. This study also identifies important themes and provides directions for future research.

The purpose of this study is to analyse and compile the literature on various option pricing models (OPM) or methodologies. The report highlights the gaps in the existing literature review and builds recommendations for potential scholars interested in the subject area.

In this study, the researchers used a systematic literature review procedure to collect data from Scopus. Bibliometric and structured network analyses were used to examine the bibliometric properties of 864 research documents.

As per the findings of the study, publication in the field has been increasing at a rate of 6% on average. This study also includes a list of the most influential and productive researchers, frequently used keywords and primary publications in this subject area. In particular, Thematic map and Sankey’s diagram for conceptual structure and for intellectual structure co-citation analysis and bibliographic coupling were used.

Based on the conclusion presented in this paper, there are several potential implications for research, practice and society.

This study provides useful insights for future research in the area of OPM in financial derivatives. Researchers can focus on impactful authors, significant work and productive countries and identify potential collaborators. The study also highlights the commonly used OPMs and emerging themes like machine learning and deep neural network models, which can inform practitioners about new developments in the field and guide the development of new models to address existing limitations.

The accurate pricing of financial derivatives has significant implications for society, as it can impact the stability of financial markets and the wider economy. The findings of this study, which identify the most commonly used OPMs and emerging themes, can help improve the accuracy of pricing and risk management in the financial derivatives sector, which can ultimately benefit society as a whole.

It is possibly the initial effort to consolidate the literature on calibration on option price by evaluating and analysing alternative OPM applied by researchers to guide future research in the right direction.

Practices of transfer pricing in among companies having “special relationship” (hubungan istimewa in Bahasa Indonesia, this study uses a term of ‘related party’) to others are very common nowadays. However, the complexity of transfer pricing strategy and practices in many companies made the use of individual level data become insufficient, therefore we conduct an ethnographic study to explore how taxpayer determines the reasonable transfer pricing based on five methods (i.e. Comparable uncontrolled Price/CUP, Resale Price/RPM, Cost Plus, Transactional Net Margin Method/TNMM and Profit Split Method/PSM).This research aims to execute a tax strategy based on those methods, which finally derive the amount of product price according to arm.s length transfer pricing rule. We collected the data through interviews, observation and literatures. They are based on several months of personal experience of field research in and around the manufacturing enterprise. The results showed that the tax expense could be reduced by using Cost Plus Method, but practically, the application of this method requires more in-depth analysis and a very reliable & comparative data so the company must spend a lot of cost and time to process it. The Transactional Net Profit Method is proved to be the best application for the enterprise to optimize tax expenses because the data used for the analysis were more accessible which saved time and costs.

This study aims to examine how dynamic pricing impacts customer perceptions of restaurants and sentiment toward prices via online reputation metrics. In addition, to deepen the debate on dynamic pricing, a novel definition is drawn by exploring the specific forms of discrimination that can manifest in different industries.

Leveraging a comprehensive data set of restaurant reviews sourced from TripAdvisor, the study focuses on restaurants affiliated with one of the largest groups of restaurants in Spain. We used a quasi-experimental method (difference-in-differences), to study how dynamic pricing strategies influence customers’ perceptions of value based on numerical ratings. Meanwhile, we used a Bidirectional Encoder Representations from Transformers model on the textual component of reviews to dissect the emotional nuances of dynamic pricing.

Results did not reveal a causal impact of dynamic pricing strategies on customers’ perceptions. Moreover, the sentiment analysis shows no heightened negative view after introducing dynamic pricing in restaurants compared to the control group. Contrary to what previous literature suggests, our findings indicate that implementing dynamic pricing does not adversely affect customers’ perceptions or sentiments regarding prices in restaurants.

The quasi-experimental setting of the study presents inherent challenges in establishing causality that require further investigation using controlled experimental settings. Nevertheless, our study reveals that restaurant customers do not perceive dynamic pricing as unfair. This finding is critical for restaurant managers when considering the implementation of dynamic pricing and revenue management strategies. In addition, our study highlights the importance of considering not only numerical ratings but customer sentiment analysis as well. This more holistic approach to assessing the impact of pricing strategies can give restaurant managers a deeper understanding of customer reactions. In addition, a more rigorous definition of dynamic pricing is provided, clarifying its nature and its distinction in using different price discrimination.

This study contributes to the evolving understanding of dynamic pricing strategies’ impact on customers’ perceptions and sentiments in the restaurant industry. It aims to fill the gap in understanding customer reactions to algorithmically determined prices (via revenue management systems such as DynamEat) in this industry. The combination of causal inference and sentiment analysis offers a novel perspective, shedding light on the nuanced connections between dynamic pricing implementation and customers’ emotions.

本研究考察动态定价如何通过在线声誉指标影响顾客对餐厅的感知和对价格的情绪。此外, 为了深化对动态定价的讨论, 通过探索不同行业中可能表现出的具体歧视形式, 提出了一个新的定义。

利用从TripAdvisor获取的餐厅评论的全面数据集, 研究聚焦于与西班牙最大的餐厅集团之一相关联的餐厅。我们采用了准实验方法（差异中的差异）, 研究动态定价策略如何根据数值评分影响顾客对价值的感知。同时, 我们运用BERT模型对评论的文本成分进行分析, 以解析动态定价的情感细微差别。

结果没有揭示动态定价策略对顾客感知产生因果影响。此外, 情绪分析显示, 在餐厅引入动态定价后, 与对照组相比, 没有增加消极观点。与以往文献所述相反, 我们的发现表明, 实施动态定价并不会对顾客对价格的感知或情绪产生负面影响。

研究的准实验设置存在确立因果关系的固有挑战, 需要通过控制实验设置进一步调查。尽管如此, 我们的研究揭示了餐厅顾客不认为动态定价不公平。这一发现对餐厅经理在考虑实施动态定价和收入管理策略时至关重要。此外, 我们的研究强调, 考虑顾客情绪分析和数值评分的重要性。这种更全面的方法评估定价策略的影响, 可以让餐厅经理更深入地理解顾客反应。此外, 提供了一个更严格的动态定价定义, 澄清了其性质及其在使用不同价格歧视中的区别。

本研究对于理解动态定价策略对餐厅行业顾客感知和情绪影响的不断发展有所贡献。它旨在填补对客户对算法确定的价格（通过收入管理系统（RMS）例如DynamEat）在此行业中反应的理解空白。因果推断与情绪分析的结合提供了新的视角, 揭示了动态定价实施与顾客情绪之间微妙的联系。

Este estudio examina cómo la fijación dinámica de precios impacta en las percepciones de los clientes de los restaurantes y en el sentimiento hacia los precios a través de métricas de reputación en línea. Además, para profundizar en el debate sobre la fijación dinámica de precios, se propone una definición novedosa explorando las formas específicas de discriminación que pueden manifestarse en diferentes industrias.

Utilizando un conjunto de datos exhaustivo de reseñas de restaurantes obtenidas de TripAdvisor, el estudio se centra en los restaurantes afiliados a uno de los mayores grupos de restaurantes en España. Empleamos un método cuasiexperimental (diferencias en diferencias) para estudiar cómo las estrategias de precios dinámicos influyen en las percepciones de valor de los clientes basándonos en las calificaciones numéricas. Mientras tanto, empleamos un modelo BERT en el componente textual de las reseñas para desentrañar los matices emocionales de la fijación dinámica de precios.

Los resultados no revelaron un impacto causal de las estrategias de precios dinámicos en las percepciones de los clientes. Además, el análisis de sentimiento no muestra una visión negativa aumentada después de introducir la fijación dinámica de precios en los restaurantes en comparación con el grupo de control. Contrariamente a lo que sugiere la literatura previa, nuestros hallazgos indican que la implementación de precios dinámicos no afecta negativamente las percepciones o los sentimientos de los clientes respecto a los precios en los restaurantes.

La configuración cuasiexperimental del estudio presenta desafíos inherentes para establecer la causalidad que requieren una investigación más profunda utilizando entornos experimentales controlados. Sin embargo, nuestro estudio revela que los clientes de restaurantes no perciben la fijación de precios dinámica como injusta. Este hallazgo es crítico para los gerentes de restaurantes al considerar la implementación de la fijación de precios dinámica y estrategias de gestión de ingresos. Además, nuestro estudio resalta la importancia de considerar no solo las calificaciones numéricas sino también el análisis del sentimiento del cliente. Este enfoque más holístico para evaluar el impacto de las estrategias de precios puede dar a los gerentes de restaurantes una comprensión más profunda de las reacciones de los clientes. Además, se proporciona una definición de fijación de precios dinámica más rigurosa, aclarando su naturaleza y su distinción en el uso de diferentes discriminaciones de precios.

Este estudio contribuye a la comprensión en evolución del impacto de las estrategias de fijación de precios dinámicos en las percepciones y sentimientos de los clientes en la industria restaurantera. Su objetivo es llenar el vacío en la comprensión de las reacciones de los clientes a los precios determinados algorítmicamente (a través de sistemas de gestión de ingresos (RMS) como DynamEat) en esta industria. La combinación de inferencia causal y análisis de sentimientos ofrece una perspectiva novedosa, arrojando luz sobre las conexiones matizadas entre la implementación de la fijación de precios dinámicos y las emociones de los clientes.

This paper originally proposed the fuzzy option pricing method for green bonds. Based on the requirements of arbitrage equilibrium, this paper draws on Merton's corporate bond option pricing model.

Describing the asset value behavior of green bond issuing enterprises through diffusion-jump processes to reflect the uncertainty brought by carbon emission reduction policies and technologies, using approximation methods to get the analytical pricing formula and then, using a fuzzification technique of Choquet expectation under  λ-additive fuzzy measures after considering fuzzy factors, the paper provides fuzzy intervals for the parity coupon rates of green bonds with different subjective levels for investors.

The paper proposes and argues the classical and fuzzy option pricing methods in turn for both corporate ordinary bonds and green bonds, considering carbon risk or climate risk. It implements the scenario analysis varying with industry emission standards and discusses the sensitiveness of the related key parameters of the option.

The fuzzy option pricing for the green bonds provides the scope of the variable equilibrium values, operational theoretical supports and some policy implications of carbon reduction and promoting green funding.

The logic of introducing the fuzziness of the option pricing for the green bonds lies with considering the existence of fuzzy information about the project supported by the green bond and the subjectivity of investors and it also responds to changes in technological uncertainty and policy uncertainty in the process of “carbon peaking and carbon neutrality.”

The paper seeks to fill a research gap that concerns empirical studies on value‐based pricing in durable consumer goods. It aims to analyse the relationship between value for the customer and market prices in the washing machines market.

The customer value of a sample of 129 washing machine models is assessed through the conjoint analysis technique. It is then compared through a regression analysis to the market prices of the products.

The regression analysis reveals that the alignment between price and value for the customer is limited (only one of the two subsamples presents a positive dependence among the variables).

The study lacks explanatory power about the reasons for the misalignment between price and customer value in the investigated sector. The results, moreover, refer to a specific product category and a specific national market, although their representativeness as a mature durable in a mature market suggests a broader relevance of the implications. The size of the samples of the empirical research is also limited.

The paper provides an example and guidelines to practitioners on how to implement a customer value assessment. It provides practitioners a deeper understanding of the consequences of misaligned pricing, and of the potential of understanding the actual value sources for the customers.

The study empirically assesses the relationship between value for the customer and market prices of a category of mature durable goods. The results support the claim that value‐based pricing, although believed to be superior to other pricing policies, is still not established as a prominent practice. Moreover, the findings contribute to the discussion on the value of environment‐related attributes and their lifecycle monetary impact on the customers. It also identifies another possible obstacle to the adoption of value‐based pricing, i.e. the structure of the market, to be added to the ones reviewed in the literature.

After pioneering, but insular, work on the conceptualization and measurement of customer value in business markets undertaken in the 80s and 90s, interest in this topic is substantial since the beginning of this decade. Despite this recent interest, marketing scholars concur that value in business markets is still an under-researched subject. This contribution to the debate is threefold. The paper first proposes an own model of customer value conceptualization in business markets; based on several rounds of testing this theoretically grounded model in managerial practice indications exist to conclude that this model may offer benefits over current models.

Secondly, the paper provides a comprehensive survey of pricing approaches in industrial markets. The paper integrates this literature overview with own empirical findings. Concurrently the paper summarizes extant research on the link between pricing approach and profitability in industrial markets. The paper thirdly proposes a framework for value delivery and value-based pricing strategies in industrial markets. Proposing such a framework is both useful as well as necessary. Useful, since this framework guides new product development and pricing decisions and assists in the implementation of price-repositioning strategies for existing products; necessary, since the theoretical and practical adoption of value-based delivery and pricing strategies may have suffered from the lack of a unifying conceptual framework. Two case studies, one involving the pricing decision for a major product launch at a global chemical company, the other involving value delivery at an industrial equipment manufacturer, illustrate the practical applicability of the proposed framework.

This study aims to provide a comprehensive overview of asset pricing research and identifies the general research trends in the area. The study also aims to provide future direction to the researchers in the area of asset pricing.

The study uses bibliometric analysis techniques to achieve the stated purpose. The study covers 3,007 articles published in the top 50 finance and economics journals, accessed from the Scopus database for a period of 47 years (1973–2020). After initial searching for “asset pricing” as the main keyword in “title, abstract, keywords”, the database yields 6,583 articles. This number further reduces to 3,007 articles when the search is restricted to research and review articles published in the top 50 peer-reviewed journals.

The tabular and pictorial representation obtained from the analysis exhibit that asset pricing is an extensively researched area; however, a sudden rise in the number of publications (242) observed for 2019 demonstrates a growing interest amongst researchers. Further, affiliation statistics indicate that the volume of research is mainly concentrated in the USA and other developed nations; hence it opens vistas for the exploration of risk-return dynamics in the context of emerging markets.

The work presents an exhaustive and comprehensive review along with potential research implications. The present study reconciles various contradictory views of the prior studies under asset pricing such as risk-return trade-off, low-risk anomaly and provides the researchers with potential research gaps.

The purpose of this paper is to describe the origins and development of the pricing function and to explore how companies are organizing for price management. Since the end of the 1990s, many companies have started initiatives towards price optimization, and moreover, have invested in pricing capabilities. The authors explain how the pricing function has evolved since then, and describe the roles and responsibilities assigned to pricing managers.

The authors conducted an empirical qualitative research based on 28 interviews with pricing managers (analysts, directors, chief pricing officers) in large companies in France. A lexical analysis has been conducted in order to develop a typology of pricing orientations and a description of the different ways of performing the function within the company.

The results describe three main stages (commodity, control, and value) corresponding to different levels of maturity of the pricing function. Many managers feel they lack opportunities to “push the price button”; this research shows that a progressive and systematic deployment of tools and capabilities allows companies to gain more pricing power.

The authors describe three main orientations in organizing for pricing management, as degrees of maturity of the pricing function. Practitioners will find information on how to deploy the function in their organization useful given the variety of industries and pricing contexts studied.