How the Use of Artificial Intelligence Influences the Perception of Prices
This project investigates the effects of the involvement of artificial intelligence (e.g. in the form of chatbots or humanoid robots) in exchange relationships between customers and companies on the customer's perception of prices.
Factsheet
- Schools involved Business School
- Institute(s) Institute for Marketing & Global Management
- Funding organisation SNSF
- Duration (planned) 01.08.2024 - 31.07.2028
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Head of project
Prof. Dr. Sven Feurer
Prof. Dr. Elisa Konya-Baumbach - Project staff Prof. Dr. Sven Feurer
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Partner
Schweizerischer Nationalfonds SNF
Vanderbilt University
Situation
The use of artificial intelligence (AI) is increasingly playing a role in exchange relationships between companies and customers. How does this influence the customer's perception of prices as fair or unfair? The goal of this SNF-funded project is to answer this question. The project also investigates which sitauative, AI-specific and customer-specific factors influence the perception of prices.
Course of action
The research question(s) will be answered by means of randomized experiments in which different transactions and exchange situations will be simulated. The effect of the presence of AI (versus a control group without AI) on the reactions of study participants will be investigated.
Result
The development of AI has become a significant economic factor. Forms of AI are becoming more and more sophisticated (e.g. humanoid robots) and will increasingly find their way into our everyday lives in the future. The project contributes to understanding how relationships between companies and customers will change as a result and helps companies and customers to make better decisions in the context of price setting and perception.
