Social value orientation and information level in selling prices

The concept of social value orientation was used to investigate whether or not individual difference would influence selling price decisions in situations with different information levels. Results of the study indicated that individuals with different orientations reacted differently to selling price under the condition of different information levels. In general, proselfs charged higher prices under the condition of asymmetric information than under the condition of symmetric information when they believed that the prospective buyer lacked information about market prices. However, the selling price disparity between asymmetric and symmetric information conditions was diminished when the buyer was a friend. By contrast, prosocials were not influenced by the manipulation of the information level of the buyer and their relationship with the buyer.