Measures consumer perceptions of whether a price is fair — the degree to which a price is judged as reasonable, acceptable, and justifiable given the reference standards available. Price fairness perceptions are a key driver of purchase intention, satisfaction, and trust — unfair price perceptions trigger negative emotions (anger, outrage) and behaviour (complaint, negative WOM, boycott). Widely used in dynamic pricing, surge pricing, and price discrimination research.
Xia, L., Monroe, K.B., & Cox, J.L. (2004). The price is unfair! A conceptual framework of price fairness perceptions. Journal of Marketing, 68(4), 1–15.
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