Icdec2020_presentation_slides_8

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This document proposes a "Pay What You Want" (PWYW) pricing strategy for digital arts and culture. Traditional valuation models are irrelevant for digital works that can be reproduced infinitely. The document suggests that PWYW, where consumers pay based on perceived value, is a suitable approach. It then presents a framework called "ArtFairPay" that nudges consumers towards fair prices through probability displays and rewards for fair-paying buyers over multiple purchases. The goal is to reconsider theories of value for digital arts using participative pricing strategies.

Art & Photos

Pricing Digital Arts and Culture through
PWYW Strategies:
A Reconsideration of the Ricardian
Theory of Value
By Racquel Antoun-Nakhle, Nizar Hariri &
Rim Haidar
The 5th International Conference on Digital Economy

Pay What You Want (PWYW) Participative
Pricing strategy
“Pay What You Want” (PWYW)
participative pricing strategy
New ways to
personalize &
differentiate
products
Expansion of
digital
markets of
arts

Irrelevance of traditional valuation
models in the era of digital distribution of
arts
Neoclassical &
Ricardian theories
Reproducible &
emotionally
valuable digital
arts

Pricing strategies based on customers’
value in use: A suitable solution

Why do consumers
pay a positive price for
a product they could
acquire for free?
The consumer may
value his relationship
with the supplier
The consumer may
perceive the supplier’s
offer as an act of
generosity and will act
out of reciprocation to
“reward” the supplier
for his kind behavior
The consumer may pay
fairly in order to ensure
the perpetuation of the
supplier’s offer

A Framework Suggestion:
The ArtFairPay
The E-
supplier
offers many
products
online
The consumer
chooses the
product that
suits him the
most
In a dialog-box,
the consumer
chooses the
price he would
like to pay
Based on other
consumers’
feedbacks, e-
suppliers
determine a
fair-price they
don’t reveal to
the consumers
Server displays
automatically a
probability of
fairness
depending on
the fair price
estimated by
the e-supplier

The supplier
rewards consumers
which behavior is
qualified as “high-
fair” after several
purchases
The supplier
assesses the
consumer’s
behavior

Nudging the consumer
The E-
supplier
offers many
products
online
The consumer
chooses the
product that
suits him the
most
In a dialog-box,
the consumer
chooses the
price he would
like to pay
Based on other
consumers’
feedbacks, e-
suppliers
determine a
fair-price they
don’t reveal to
the consumers
Server displays
automatically a
probability of
fairness
depending on
the fair price
estimated by
the e-supplier

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