Journal article

Authors list: Bitsch, Linda; Hanf, Jon H.; Hildenbrand, Andreas; Ruediger, Jens

Publication year: 2021

Journal: Berichte über Landwirtschaft

Volume number: 99

Issue number: 1

ISSN: 2196-5099

Publisher: Kohlhammer

Abstract: 

"Pay what you want!" (PWYW) - this was the principle the British rock band Radiohead used to offer their album "In Rainbows", newly released in 2007, for download on their website for two months. It was astonishing to see that Radiohead were able to generate benefit from this offer.

In contrast to traditional pricing processes, with PWYW it is up to the buyer to determine the final purchase price. The buyer is given the entire decision-making power of pricing. Once the buyer has set the final price, the transaction takes place. The seller must accept any transaction price, including zero. They can sell one or several products through the PWYW strategy. (KIM ET AL. 2009)

This paper aims to highlight the opportunities and risks of the PWYW mechanism in order to outline its future uses in the agro-food sector. To achieve this objective, a comprehensive literature review will be done.

Harvard Citation style: Bitsch, L., Hanf, J., Hildenbrand, A. and Ruediger, J. (2021) Participatory pricing: an innovative tool for agriculture?, Berichte über Landwirtschaft, 99(1)

APA Citation style: Bitsch, L., Hanf, J., Hildenbrand, A., & Ruediger, J. (2021). Participatory pricing: an innovative tool for agriculture?. Berichte über Landwirtschaft. 99(1).